Land at Matterdale - Auction Results
On the afternoon of Thursday 27th July, PFK Rural Ltd offered for sale 214.95 acres of permanent pasture land in parish of Matterdale.
Andrew Maughan from Penrith & District Farmers' Mart undertook the auction on behalf of PFK Rural and offered for sale five lots all of which were met with plenty of competitive bidding.
First up was Lot 1 which comprised 22.94 acres of permanent pasture land, with roadside access and a natural water supply and this sold for £120,000 (£5,231 per acre). There was then considerable interest in Lot 2, which comprised 18.75 acres of permanent pasture land, some of which was capable of being mown located opposite Matterdale Church. After some rapid bidding the price settled at £125,000 (£6,666 per acre).
Next to the market was Lot 3 which comprised a parcel of land extending to 8.68 acres with a stone barn located at the southern end which had attracted considerable interest during the marketing period. Again, after some quick bidding this settled at a final sale price of £59,000 (£6,797 per acre).
Next it was the turn of Lot 4 which was the lot which had generated the most interest throughout the marketing period and comprised a block of 53.49 acres of upland grazing land and this eventually settled at a price of £305,000 (£5,702 per acre).
Finally, Mr Maughan brought forward to the market an area of 111.09 acres of allotment ground on the western side of Little Mell Fell and after a slow start, this eventually sold for £220,000 (£1,980 per acre).
PFK Rural were extremely pleased with the outcome of the auction, which represented the sale of land in an area where there has been limited supply over recent years and there was good interest in all lots from a variety of purchasers, which goes to demonstrate the continued attraction of agricultural land to a wide diversity of interests.