George F White conducted several sales by both private treaty and auction throughout the year.
Prices obtained remained very much dependent upon the location, ranging from £8000 per acre to £20,000 per acre, dependent on influencing factors includ
ing existing stabling, roadside access and services accessible nearby.
Looking forward to 2008, it is considered unlikely that the increase in agricultural commodity prices will give farmers a considerable incentive to sell off their paddocks.
The capital gains tax restructure, however, has moved many farmers to put their land onto the market prior to April 6, in order to take advantage of the full taper relief.
George F White is preparing to auction several blocks of land on March 13, including a five acre paddock in County Durham. Also, on March 28, approximately 6.58 acres of grassland and woodland located to the north of Clifton, Morpeth, will come under auction, with full planning permission for three stables and one tackroom.
Tom Oates, head of George F White's equine property section, said: "We do not feel the predicted economic downturn will have an effect on the sale of paddocks.
"There is such high demand from the equestrian fraternity in the area that even throughout the downturn, demand will far exceed supply.
"In addition, one has to consider that many equestrian enthusiasts consider their horses to be the most important factor in a move, and may well forgo other luxuries, in order to secure a desirable place for their horses."
The Thursday, March 13 auction will be held at the Scotch Corner Hotel, Richmond, at 6.30pm.
The auction on Friday, March 28 will be held at The Ridley Arms, Stannington, at 7pm.
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