Choosing the right time to sell your farmland can be quite a task.
If you are hoping to maximise the sale price by potentially selling to a developer, then your guaranteed to get a better price if you have already planning permission in place.
The process for planning permission is managed by your local authority and will usually take at least 9 months. It is the planning permission that largely dictates the value of the land.
Or have you already bagged your planning permission and you are just waiting for the best time of year to sell your land, when crops are flourishing, and stock farms look their best.
It can be a waiting game and if you’re a farmer looking to make some extra income whilst you’re holding out for that right moment to sell, here are some ideas on how to get your local community involved.
1 Open up a Campsite
With the new wave of Glamping (Glamourous Camping) hitting the vacation trends, and the growing desire to holiday in the great outdoors, Glamping is fast becoming one of the most popular holiday choices amongst millennials. Many luxury glamping companies are often looking for new sites to add to their portfolio, if you have the space and the amenities this could be a very fruitful option.
2. Farmers Market
Consider opening or hosting a regular Farmers Market, these can be popular with the locals and visiting tourists and will increase brand awareness no end. Hosting other local farmers, at a fee, onto your land to sell their produce you also have the added benefit of local networking and a small income.
Many of us are hungry to learn new skills and it is without doubt that as a land owner you will have a skill set or expertise that you can offer to teach others. Invite locals or visiting tourists to your farm to learn these skills. Begin with smaller classes and let them grow, you could end up opening your own specialist school!
4. Bed and Breakfast Coming up!
City slickers can be desperate to escape the rat race at weekends. Consider renovating any suitable outbuildings that could be transformed into a luxury lodge or an extension of your farmhouse. Hundreds of pounds can be made every week by sharing a small slice of your country retreat for not very much effort at all.
5. Private Fishing Lakes
Do you have lakes on your property? Have you considered opening them as public fishing lakes? By offering a catch and release fishing experience, your visitors pay an entry fee and can stay as long as they like. The other option visitors pay a small entry fee and then their catch must be weighed and paid for.
6. Fruit Farms and Family Days
As a master of crops and stocks, planting your own fruit farm should be relatively easy and payback some nice dividends.
You could run a ‘Pick your own fruit and veg’ market, pumpkin picking, nature trails, choose you’re your own strawberries, open up a smoothie station, offer tractor rides even host a fireworks event whilst also promoting and farm produce at a farm shop or stall.
There is a lot of opportunity to make cash from dormant land waiting for a sale.
More blog posts by Jessica Parkes