Buccleuch Estate, which manages over 270,000 acres of land across Scotland, has announced it is to sell land on its Borders estate for more than £19m.
Around 8,959 acres of predominantly agricultural and forestry land, available as a whole or in 18 separate lots, is up on the market.
The land is situated close to the A7 road to the south of Langholm at Canonbie in Dumfries and Galloway.
Buccleuch has confirmed that any sale of land encompassing tenanted farms would see current leasing agreements honoured.
John Glen, chief executive of Buccleuch, said that due to the structure of the portfolio, the sale process is expected to take some time.
“As the Buccleuch business continues to evolve, we have to reflect the fact that the productive use of land is a far more complex proposition than it was previously,” Mr Glen said.
“We are committed to achieving the best use of land possible and part of that strategy involves reducing our footprint. These land holdings being brought to market offer a wide variety of opportunities for prospective owners.
“Due to the structure of the portfolio, we expect the sale process may take some time and we will appraise tenants and staff at the estate as soon as matters develop.
“We have been in discussion with tenant farmers, who have expressed an interest in buying their farms for some time and these are continuing. Other tenant farmers who have not yet indicated an interest to buy can, of course, do so.
He added: “Farms occupied on 1991 Act tenancies are not part of this marketing and current lease arrangements on other farms would be honoured by the new owner as we have stipulated as part of the sale process.”
Estate agents Savills, which is advising Buccleuch, is anticipating a good level interest at a time when there is a lack of supply and opportunities across the UK.
Charles Dudgeon of Savills, said: “While the properties sit in a beautiful part of the world, amidst a rolling landscape, they are conveniently located close to the main Edinburgh to Carlisle trunk road, providing quick access to the motorway network.”
