Preston farmland spanning 800 acres priced above £5m

The Alston Estate comprises two fully equipped dairy farms and is being marketed as a significant commercial-scale investment opportunity.

Fisher German has set a guide price in excess of £5m for the 800 acres in Grimsargh, to the north east of Preston.

The two farms are currently in operation and leased out under two Agricultural Holdings Act tenancies, a piece of legislation that allows the landowner to let agricultural holdings.

Fisher German is marketing the land on behalf of a private client who is keen to sell to investors.

Elston New Hall Farm encompasses 325 acres and includes a dairy farm, a three-bedroom farmhouse, and a four-bedroom home, occupied by the tenant.

Traditional red brick farm buildings and modern equivalents are also found on the plot.

Around 270 acres are permanent pasture, while an area of ancient semi-natural woodland takes up more than 46 acres.

The larger Elston Old Hall Farm spans 475 acres and hosts a second dairy farm.

In addition, it offers a four-bedroom house, a three-bedroom farmhouse, which is sublet.

A third and vacant three-bedroom grade two-listed house requires renovation.

Farm buildings, which have the scope for alternative uses, 385 acres of permanent pasture, and more than 67 acres of woodland, round off the lot.

Passing rent for the land subject to both Agricultural Holdings Act tenancies is £72,000 a year. The rent for both holdings was last reviewed in February 2024.

The estate fronts the River Ribble with riparian ownership, meaning the landowner has legal control over the waterway in relation to concerns such as flooding.

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Richard Gadd, partner and head of farm agency at Fisher German, said: “[The Alston Estate] includes five independent residential dwellings which are let within the existing tenancies, and two well-equipped farmsteads supporting two dairy herds.

“The estate provides significant natural capital prospects, good sporting potential, and long-term mineral prospects, alongside some smaller-scale development potential across the farm buildings, subject to the necessary consents.”

He added: “Rural investment opportunities of this scale are rarely seen in the farmland market and the combination of two adjoining tenanted holdings provides a long-term prospect for the amalgamation of both farms to form a significant ringfenced estate in the future.”