Rich landowners

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Rob R

Joined: 28 Oct 2004
Posts: 31902
Location: York

Posted: Sun Nov 28, 10 5:58 am Post subject: Rich landowners

I've been thinking about the cost of property/returns recently and wondering how can assets be so expensive and yet yield so little? Farmland and farmsteads seem to be increasingly like diamonds, kept purely for their 'status' value with no practical application. You have to be a millionaire to make a minimum wage, which seems very wrong.

For example, a Pembrokeshire traditional farmstead, modern buildings, house and 321 acres of land, so not big at all, £1.9 million

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Sun Nov 28, 10 8:58 am Post subject:
Is that so expensive? A modern house near me, which was build on a corner plot from another house, was on the market for well over £1 million and that has hardly any garden. When you look at the prices of houses then farms with a decent amount of land don't look too bad.

Rob R

Joined: 28 Oct 2004
Posts: 31902
Location: York

Posted: Sun Nov 28, 10 9:07 am Post subject:
You wouldn't be expecting to make a living from that house though.

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Sun Nov 28, 10 9:13 am Post subject:
Actually I think the people selling it have, although it was a new build and they extended it I expect they will make a tidy profit even now. It wouldn't surprise me if £1.9m turns out to be cheap in a few years time so the owner could realise a large capital gain. It sounds more sensible than what many people spend their money on.

tahir

Joined: 28 Oct 2004
Posts: 45420
Location: Essex

Posted: Sun Nov 28, 10 10:00 am Post subject:
I met the guy who owns this business a few weeks ago: https://www.mansfields.net/ He's bought land at up to £50k an acre in the last few years (for his business)

Cathryn

Joined: 16 Jul 2005
Posts: 19856
Location: Ceredigion

Posted: Sun Nov 28, 10 10:21 am Post subject:
Some fields near us have just sold for £10,000 per acre. Not high quality farmland, not in the Local Development Plan, not able to make a good enough return as farm land (according to a local landowner I sleep with and many of his friends). A good buy if you have spare cash however and someone local (who apparently fancies having a go at farming) did.

Mary-Jane

Joined: 13 Jan 2005
Posts: 18397
Location: The Fishing Strumpet is from Ceredigion in West Wales

Posted: Sun Nov 28, 10 10:27 am Post subject:

Cathryn wrote:

(according to a local landowner I sleep with and many of his friends)

Do you think you ought to re-phrase that Cathryn dear...

gil
Downsizer Moderator

Joined: 08 Jun 2005
Posts: 18409

Posted: Sun Nov 28, 10 10:36 am Post subject:

Mary-Jane wrote:

Cathryn wrote:

(according to a local landowner I sleep with and many of his friends)

Do you think you ought to re-phrase that Cathryn dear...

Just a comma would suffice, if you're being really pedantic.

chez

Joined: 13 Aug 2006
Posts: 35934
Location: The Hive of the Uberbee, Quantock Hills, Somerset

Posted: Sun Nov 28, 10 10:37 am Post subject:
They make their own entertainment out there in the Far West

Mary-Jane

Joined: 13 Jan 2005
Posts: 18397
Location: The Fishing Strumpet is from Ceredigion in West Wales

Posted: Sun Nov 28, 10 10:38 am Post subject:

Chez wrote:

They make their own entertainment out there in the Far West

Look, we don't play the banjo out here you know...

pookie

Joined: 01 Aug 2006
Posts: 4984
Location: Mid-Wales

Posted: Sun Nov 28, 10 11:28 am Post subject:

chez

Joined: 13 Aug 2006
Posts: 35934
Location: The Hive of the Uberbee, Quantock Hills, Somerset

Posted: Sun Nov 28, 10 11:31 am Post subject:

Mary-Jane wrote:

Chez wrote:

They make their own entertainment out there in the Far West

Look, we don't play the banjo out here you know...

No. Just the accordion.

Rob R

Joined: 28 Oct 2004
Posts: 31902
Location: York

Posted: Sun Nov 28, 10 11:42 am Post subject:

Treacodactyl wrote:

Actually I think the people selling it have, although it was a new build and they extended it I expect they will make a tidy profit even now.

It wouldn't surprise me if £1.9m turns out to be cheap in a few years time so the owner could realise a large capital gain. It sounds more sensible than what many people spend their money on.

There's a big difference between making money and making a living though, or else every home owner would give up work.

Ty Gwyn

Joined: 22 Sep 2010
Posts: 4563
Location: Lampeter

Posted: Sun Nov 28, 10 12:21 pm Post subject:
And don`t forget,on top of the purchase price of 1.9 million,you have to stock the farm with livestock and implements before you think of making a living

Mary-Jane

Joined: 13 Jan 2005
Posts: 18397
Location: The Fishing Strumpet is from Ceredigion in West Wales

Posted: Sun Nov 28, 10 1:28 pm Post subject:

Chez wrote:

Mary-Jane wrote:

Chez wrote:

They make their own entertainment out there in the Far West

Look, we don't play the banjo out here you know...

No. Just the accordion.

Naked.

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