Two parcels of land up for auction saw unprecedented results, with the price for grazing land in Cumbria reaching £20,000 per acre.
The 44 acres of cropping and grazing land at Glassonby, Cumbria sold as a whole for 122% over the guide price of £395,000, reaching £880,000, or £20,095 per acre.
The 27 acres of grazing land nearby Skelton was up for auction with a guide price of £280,000, and the gavel came down at 20% over the guide, at £337,000, representing £12,593 per acre.
The auction was held on Wednesday (23 November) by H&H Land & Estates, in a sales ring at Borderway Mart.
The firm said the sale 'surpassed all expectations', with it predicting between £12-£15,000 per acre for the land at Glassonby.
Thomas Armstrong, director and chartered surveyor at H&H, said: “With reference to the land at Glassonby, we knew there was strong interest.
"We were expecting this land to sell for significantly more than the guide price. We were predicting between £12-£15k per acre. However, we were absolutely astounded at the interest on the day.
"The land sold to a local dairy farmer and understandably the vendor was absolutely delighted."
“For many years no land has been sold in this particular area, it selling for this amount, I believe, is potentially a sign of the times.
"Location is key and if you have land adjacent or near large successful expanding farming enterprises it will continue to demand a premium.”
