Manor House Farms
Jonathan Naughton, MRICS, Principal of Manor House Farms, started working on investing in sustaining farm businesses needing capital in 2009, following his family’s experiences across Gloucestershire as both owners and tenant farmers. His career as a Chartered Surveyor since 1985 and experience in land and property allows development potential to be understood and pursued where viable. He is a specialist in land value policy and works on this through the RICS and through liaison with civil servants and Government Ministers.
Manor House Farms started managing farm land and buildings for tax planning funds in 2009. Arable and dairy farm assets have been bought managed and sold continuously since then for various funds. Assets are usually bought where incumbent farm businesses have ‘3D’ issues: death, divorce or most usually debt. This creates a parallel with IHT managed funds, with the farmer needing to pass a business down through the generations, whilst releasing capital.
Manor House Farms sources these specialist situations at below market value, as there is a ‘marriage value’ in the retention of the farm contract work by the vendor. We are particularly proud of the robust performance of the assets in a falling land price market since 2014. The aim is to generate very secure, well run farm assets, with income generated only from core food needs in combinable crops, peas and beans and high welfare, UK market only, dairy and livestock. Investments in farm land can be made available across a wide range of rural assets and across a wide range of investment size.
UK Agricultural policy is in a time of change, as is the anticipated farm land grant system. The acquisition strategy is therefore prioritising investments alongside proven specialist farm businesses and their investment requirements within new policy led opportunities. Organic dairy is one such focus.