Looking back, and moving forward

The 2014 Scottish Farmland market has been characterised by very tight supply with the uncertainty created by the review of the Common Agricultural Policy (CAP) considered the major factor.  Indeed, with finer details of the CAP still to be implemented, and SGRPID only this week releasing an update to its Greening rules (14 Jan 2015),  we expect the farm market will remain somewhat affected, to a lesser degree, in the first part of 2015 as buyers and sellers (together with their advisors) get to grips with the new rules.
In the meantime, some shrewd buyers may well secure their properties ahead of the stronger competition that may arise when the dust begins to settle. For many this will be after the introduction of the new Land and Buildings Transaction Tax, proposed to come in to effect on 1 April 2015 and replacing stamp duty.
In addition to the CAP, the Referendum and Land Reform proposals have also created market uncertainty and in our experience, postponed major decisions surrounding selling a farm. Clarification and more certainty going forward should bring about increased activity and return confidence to the market.
Despite a quieter nationwide level of market transactions, Aberdeen and Northern Estates had an extremely busy 2014, successfully marketing a number of farm properties, and in particular those in the category of up to 80 Ha (200 acres). There were very few larger farms above this size coming on to the market for sale.  Those that did, however, including Newton Home Farm, near Insch in Aberdeenshire were met with strong demand and competitive premium offers at the closing date. This scenario was repeated with a number of bare agricultural land sales throughout Aberdeenshire, and in particular for the best of arable land available.
As long as north and north east land is perceived as costing less than in other parts of Scotland, England, Ireland or Wales we expect the market will continue to attract strong interest from both locals and others from further afield as buyers predict continued capital growth and feel cushioned by the present low cost of borrowing.
Aberdeen and Northern Estates have remained heavily active over the winter season with notable developments in, three of the properties launched and advertised in the December edition of Farm North East.
That includes a closing date set for 28 January 2015 for Burnthill and Little Burnthill Farms at Fraserburgh following a number of noted interests.
Wateryslacks, near Belhelvie has already had its closing date in mid December and attracted as many as ten competitive offers.
Land at Scareleys near Maud, meanwhile was no longer on the market, when an attractive offer was received in the first few days.
Whilst traditionally the main selling season is the spring and summer months Aberdeen and Northern are set to bring to the market a number of fresh instructions early in 2015 including sizeable equipped farms and bare land opportunities throughout Aberdeenshire. 
If you are considering selling or buying rural property this year, Aberdeen and Northern have considerable experience and expertise in this area and would be delighted to assist with all stages in this sensitive sales process.

Aberdeen and Northern Estates - Coronavirus update

The health and wellbeing of our employees and customers remains our priority throughout the Coronavirus (COVID-19) situation. Given the Government’s latest guidelines our main office within the Thainstone Centre, Inverurie has been temporarily closed for the time being however, our team are equipped to work from home. We aim to help where we can although we hope you understand that this will involve restrictions.

We will continue to monitor the latest Government guidance and update everyone should our position change.