The Langley Estate at Witton Gilbert in County Durham has been launched  on to the open market. It is a significant mixed rural estate, with a  diverse income stream and considerable development potential.
The Estate comprises:
One in-hand farm; 9 bare land buildings, 32 woodland compartments; 6
other estate houses and cottages; 12 commercial units; 4 turbine wind
farms and a telecoms mast; 32 individual allotment gardens; fishing on
the river Browney, shooting and stalking; various development
opportunities.
Current annual income: 250,800.
Acreage: In all about 2,615 acres (1,058 acres).
Available as a whole or in 4 lots.
Guide price: 10,515,000 (lot prices from £10,000 to £2,150,000).
Joint agents: GSC Grays and Youngs RPS.
Comment:
The launch of The Langley Estate on to the open market represents a
significant investment opportunity, says John Coleman of land and
property specialists, GSC Grays.
“Opportunities to purchase an estate like Langley are extremely rare and
we expect considerable interest, following its launch,” says Mr Coleman,
a director who is based at the company’s Colburn branch near Richmond,
North Yorkshire.
“Langley is one of only two significant rural estates to have come on to
the UK market this year; the other is in the South and largely
agricultural. By comparison, Langley Estate offers a wide range of
assets generating a diverse income stream, together with enormous
potential for development in several areas.
“Its position on the edge of Witton Gilbert village has already
attracted the attention of housing developers, and there is great
opportunity to expand the present industrial site, with strong local
interest for units. In addition, the estate has a significant forestry
asset with its inherent tax advantages and investors may also wish to
take advantage of the growing renewables sector and build on the
Estate’s existing portfolio.
“The Estate’s agricultural and residential assets link it all together
and the current income totals over £250,000 each year.  Based on the
overall guide price, this represents a yield of around 2.4%, which ought
to be highly attractive in this market,” said Mr Coleman.
“However, it is important to note that, as well as being available as a
whole, the Estate is being offered in lots in an attempt to encourage
individual tenants to offer on their properties; such opportunities
occur only rarely,” comments Mr Coleman.
John Coleman contact: mobile 07779 973825 landline 01748 897627
jarc@gscgrays.co.uk