Local knowledge and market insight produces desired result for client
Our Estate Agency team in Perth was recently entrusted with the sale of two productive farming units located at Bankfoot, offering a unique opportunity for buyers interested in high-quality agricultural land. The properties, North Barns Farm and Coltrannie Farm, were predominantly classified as Grade 3(1) with areas of Grade 2. Given the prime location and the quality of the land, we devised a tailored marketing strategy that capitalised on our local knowledge and market insights.
North Barns Farm (Lot 1) lies mainly to the east of the A9 and extends to 43 ha (107 acres) or level or gently sloping land. Coltrannie Farm (Lot 2) extends to 47 ha (116 acres) and is mainly on the west side of the A9.
Lot 3 is a very traditional stone-built, four-bedroom farmhouse with a surrounding garden, garage and sheds. This lot also included an option to purchase the paddock to the front which would add a further 2.67 acres. Marketed together with modern agricultural sheds at offers over £1,150,000.
Leveraging Local Knowledge: Our team’s deep understanding of the local market and buyer behaviour in the Perth area played a crucial role in the sale. We recognised that the timing of the sale would be pivotal. By launching the properties just ahead of the Royal Highland Show (RHS), we ensured that they would not be overshadowed by other farm listings that typically flood the market during this period.
Strategic Marketing Timing: The decision to market the properties slightly before the RHS allowed us to showcase them on the Bell Ingram stand at the show, a prime opportunity to capture the attention of a wider audience, including potential buyers from outside the local area. This timing also enabled us to create a buzz around the properties, increasing their visibility and desirability.
Flexible Lotting Structure: Offering the farms as separate lots or as a whole provided prospective buyers with options that suited their specific needs. This flexibility attracted a broader range of buyers, from those interested in expanding their existing agricultural operations to those looking for a traditional farmhouse with potential for lifestyle use.
After a six week marketing period, during which interest in the properties grew steadily, we set a closing date for offers. This approach not only created a sense of urgency among buyers but also allowed us to manage the sale process effectively, ensuring that all interested parties had the opportunity to submit their best offers.
The traditional Stone-Built Farmhouse remains on the market, offering potential to attract a buyer with a lifestyle interest or someone seeking a charming rural property. The flexible purchasing option, including the additional paddock, enhances its appeal.
