Norfolk County Council purchases 440 acres of land for a 'strong return on investment'

The council said the purchase will provide a strong return on investment because it will provide jobs
The council said the purchase will provide a strong return on investment because it will provide jobs

Hundreds of acres of arable land has been snapped up by Norfolk County Council, giving it a big boost in its already sizeable estate.

The council has purchased Bank House Farm in Marshland St James, comprising just under 440 acres of Grade 2 arable land including 1.28 acres of woodland.

The council said the purchase will provide a strong return on investment because it will provide jobs.

It places the total estate size at 16,738 acres, far above the council’s constitutional commitment to hold a minimum of 16,000 acres.

Keith Kiddie, chairman of Norfolk County Council’s business and property committee, said: “Securing Bank House Farm is a further step towards future-proofing the County Farms estate and offers huge lettings potential as it has appeal to both established and up-and-coming farmers.

“The County Farms estate plays an important role in maintaining rural communities and this acquisition strengthens the estate’s ability to provide employment and generate income for the county.”

The farm will be let from October 2018, together with a number of other farms within the County Farms estate.