Newcore Capital buys 200-acre Tunbridge Wells estate
Newcore Capital Management has exchanged contracts to acquire a 200-acre agricultural estate near Tunbridge Wells, Kent, for £3.3m.
Newcore is acquiring the freehold interest in Lodgefield Farm, which is located between the villages of Ashurst and Blackham, west of Tunbridge Wells, for its Newcore Strategic Situations III fund.
The estate includes a range of residential, amenity, farming, woodland and commercial assets, generating income of £60,000 a year. These comprise a Grade II-listed, four-bedroom farmhouse, a four-bedroom oast house, both of which are being acquired with vacant possession, a farm cottage, a number of other residential buildings, farmland, woodlands and fishing rights along the River Medway.
Newcore Capital Management has exchanged contracts to acquire a 200-acre agricultural estate near Tunbridge Wells, Kent, for £3.3m.
Newcore is acquiring the freehold interest in Lodgefield Farm, which is located between the villages of Ashurst and Blackham, west of Tunbridge Wells, for its Newcore Strategic Situations III fund.
The estate includes a range of residential, amenity, farming, woodland and commercial assets, generating income of £60,000 a year. These comprise a Grade II-listed, four-bedroom farmhouse, a four-bedroom oast house, both of which are being acquired with vacant possession, a farm cottage, a number of other residential buildings, farmland, woodlands and fishing rights along the River Medway.
The estate also contains a number of commercial units, including a cookery school, office, pilates studio and farm buildings used by an firewood business.
The buildings total 18,780 sq ft, of which 42% is residential, 11% commercial and 47% agricultural related. The estate offers a number of planning opportunities, including a site at the entrance that has planning consent for a lodge.
Hugo Llewelyn, managing director of Newcore, said: “Agricultural land and food production are interesting areas of social infrastructure for us, given the fall in land prices after Brexit, which, combined with the residential opportunities on the estate, make this an exciting opportunity for the NSS III fund”.
Newcore was advised by Strutt & Parker and Clegg & Co. Knight Frank acted for the seller.
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