A 2,500-acre agricultural estate located in Northumberland has been sold to the Crown Estate for over £19 million.
The Dissington Estate is one of the largest properties of its kind to come to market in the UK in recent years.
Located near Newcastle, it includes five tenanted farms and a number of residential and agricultural buildings.
The land is made up of more than 1,884 acres of arable land and 469 acres of pasture.
The majority of it is currently let out as working farms on 1986 Agricultural Holdings Act tenancies, with a smaller amount let on Farm Business Tenancies.
Andrew Foster and Chris Walker, who are directors of Watling Real Estate, were appointed joint LPA receivers over the estate in July 2023.
Mr Foster said: “Our initial task was to take control of the land and undertake a detailed fact-finding operation.
“We assessed all the disposal options and sought to structure a marketing strategy to release best value.
“We are delighted to have secured a sale to the Crown Estate.”
The Crown Estate is an independent commercial business, created by parliament, with a diverse portfolio of UK buildings, shoreline, agriculture and common land.
Over the past ten years, it has contributed circa £2.6 billion to the country’s coffers.
Mr Foster added: “The Crown Estate exists to generate valuable revenue for the government and so the acquisition of the Dissington Estate is seen very much as a long term investment with potential asset managing opportunities that may arise.”
The estate also contains a fishing pond let to a local angling club, various let residential properties, plus some 151 acres of in-hand woodland dispersed around the estate.
The residential dwellings have a total area of 27,233 sq ft and come with a wide assortment of neighbouring barns, stables, workshops, storage rooms and other outbuildings totalling another 115,000 sq ft across the estate.
