FARMLAND near Donington has had a sovereign take-over following a £10 million investment by the Duchy of Lancaster.
The Duchy purchased the 1,017 acre farm to the west and south west of the village aiming to balance and diversify its agricultural portfolio which is currently weighted towards dairy.
The Duchy used Spalding property agency Bidwells to complete the transaction which includes an area of land allocated for employment use by the planning authority which it is hoped can be developed into commercial property, providing new jobs.
Ian Monks, partner at Bidwells added: "We are pleased to have been able to work with The Duchy on this important acquisition and to identify such a high quality farm in the heart of the most productive agricultural area in the country. The Duchy's purchase will hopefully create other opportunities for them in the area.”
The site will continue to operate as an arable farm producing crops including potatoes, sugar beet and cereals.
The Duchy of Lancaster is a private portfolio of land, property and assets held for the Sovereign in His or Her role as Duke of Lancaster.
It is custodian of 18,700 hectares across England and Wales, including key urban developments, historic buildings, high-quality farm land and areas of great natural beauty.
Spokesman for The Duchy of Lancaster Paul Clarke said: “This is a major investment that underlines our long-term commitment to the rural community and agricultural sector.
“The purchase of this arable land improves the diversity and versatility of The Duchy’s agricultural assets by counterbalancing its extensive portfolio of dairy and livestock units.
“The farm is very productive with top-quality soil and high yielding crops. We will be working closely with our tenants and Bidwells to build on this success and ensure future growth.”
For further information, visit www.duchyoflancaster.co.uk