£43m, 4,000-acre Fens estate with 14 wind turbines for sale
- Credit: Savills
Eight years after the Co-op was forced to sell a 4,000-acre Cambridgeshire farming estate, it is back on the market with a guide price of £43.5m.
The Co-op's decision followed substantial losses and followed its ill-fated merger with the Britannia Building Society.
It was bought by Urban&Civic but following their take over a year ago by The Wellcome Trust it is part of a portfolio being offered for sale.
The Coldham sale includes a nine-bedroom house; Coldham Hall, a farmhouse and 13 cottages, adjacent to the farmsteads or in the village of Coldham.
“The Coldham Estate includes a number of renewable energy income streams through various leases,” says a spokesperson for Savills who are marketing the estate.
“Coldham Wind Farm, commissioned in 2005, includes eight wind turbines and a substation whilst White Mill Windfarm, commissioned in 2012, includes six wind turbines on freehold-owned land.”
The spokesperson added that terms had been agreed with Scottish Power Renewables for the construction of a new 43-acre ground mounted solar farm with work due to commence imminently.
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Charitable foundation the Wellcome Trust took over Urban & Civic last year in a deal worth £506m.
Urban&Civic began life in 2009 by Nigel Hugill and Robin Hugill with the intention of developing large strategic housing sites.
One of their successes has been Waterbeach Barracks where work has begun on a site that will eventually deliver 6,500 homes, five schools, 16,000m2 of retail space and 15,000m2 of commercial space.
At Coldham both Bidwells and Savills have been instructed on the sale which includes 4,179 acres. It is up for sale as a whole or in three lots.
The Savills spokesperson said the majority of the land is classified as grade 1 with the remainder being grade 2.
“The rich alluvial soils are versatile and suitable for growing cereals, oil seed crops as well as potatoes, field vegetables, onions and sugar beet,” said the spokesperson.
“There has been significant investment in the infrastructure in recent years and the crop storage facilities include 8,300 tonnes of grain storage and 4,060 tonnes of ambient potato storage.”
Philip Leech, a director of Urban&Civic said the sale of Coldham – and another estate in Yorkshire – followed a “strategic review”.
He said both estates “fall outside the parameters of our current property portfolio and core strategy for land ownership.”