Braemar buys first farm

BRAEMAR, the AIM-listed Hale-based property investment group, has bought its first farm.

The 280-acre arable farm in Suffolk and has beenacquired by Braemar’s agricultural land investment fund for £1.37m.

Braemar said the price represented a discount of 7% on the market value. The directors are continuing to consider other investment opportunities and another farm is under offer.

Chief executive Marc Duschenes said: “The market for farmland has not been without the turbulence that other markets have witnessed during the last few months, and we are delighted to have acquired this parcel of land at what we believe represents good value.

“For the first time in living memory, land returns are greater than cash, and we are excited about prospects for our fund.”

As a Guernsey-based open ended investment company (OEIC), the fund continues to take in new subscriptions on its monthly dealing days and investors are able to sell at quarterly intervals.