Rents for new FBTs are 39% higher on average than they were under the previous letting of the holding, so continue to achieve a higher percentage uplift in rent than the 25% average for FBT rent reviews.
This is partially because the land may have previously been let on an AHA tenancy, which has a different (lower) basis for setting rent.
Of the 13,300 acres of new FBTs which we surveyed in the year to 30 April 2015; the average letting size was 116 acres. The arable lettings averaged 121 acres, whilst livestock lettings averaged 111 acres, and mixed lettings 125 acres. 20% of the lettings were over 200 acres, and there were 23 equipped farms let.
There is considerable variation around the rental average. For example, arable FBTs averaged £139 per acre, but over 15% of arable rents were over £200 per acre, and mostly in the east.
FBTs advertised in the national farming press
27,700 acres of land was advertised in the main national agricultural publications and on property portals in England and Wales. This is a slight decrease on the 29,500 acres marketed in the year to 30 April 2014.
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