Lower priced fisheries are strongest sector - but trout are expected to rise!
Fisheries being sold for up to £250,000 are still the strongest sector of the market and represent more than 60 per cent of venues for sale through fishery specialists Fenn Wright, who last year sold venues worth a total of more than £10 million.
According to Fenn Wright's 2015 Fishery Review, the market still remains "reasonably strong" for fisheries with a value of betwen £250,000 and £500,000, although there was a lack of small 'lifestyle' fisheries which came with a residential property on site. Although the market improved for fisheries with a valuation of between £500,000 to £1 million, only a modest number of these were sold in 2014.
According to the Review, 2014 also saw an increase in the number of 'off-market' sales, where Fenn Wright were able to match buyers who were able to proceed to purchase with sellers without the need for their property to come to the open market.
Unusually, in 2014 the majority of enquiries about properties for sale came not as in previous years during spring, but during the summer months. This resulted in a flurry of new instructions in July and August. The majority of these properties have now either been sold or are under offer.
For 2015, Fenn Wright predict that, even with the distraction of the General Election, there will be a good number of potential buyers in the market for fisheries over £500,000.
Most purchasers will require bank funding and as a result sellers' expectations will need to be realistic and in line with the profitability of their businesses as banks continue to stress-test loans which has an impact on valuations.
Fenn Wright say commercial trout fisheries form about 10 per cent of the overall market and that in the last five years very few have come onto the market. However, with a noticeable increase in corporate hospitality - which has benefited those trout fisheries at the very top end of the market - there is now demand for suitable fisheries, especially in the south.
Full details of the fisheries Fenn Wright are currently offering for sale can be found on their website at Fisheries4sale.com.
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