AN agricultural business which was on the market for more than £2 million has been sold.

Nocton Nurseries Ltd, which had been central to a large scale bulb and flower business, has been successfully sold by Savills for an undisclosed fee.

The 52 acre site supports an extensive range of buildings including cold stores, a pack house, grain drying and storage and glass- houses extending in total to 49,234 sq m.

The property included workers accommodation for up to 150 staff and offers a range of uses to investors and owner occupiers.

Paul Giles and Antony Oliphant of Savills Nottingham office handled the sale.

Mr Oliphant of said: "Agriculture and the food business are one of the few bright spots in an uncertain world and it was not surprising that we had interest from non-farmers seeking to create a let investment which maximised on the range of options for the different property types within the complex.

"We expect to see more interest of this type of non-farming investor in the future for agricultural and food business property."

Interest for the Nocton Nursery complex came from companies in central Europe and as far afield as Brazil as well as farmers and non farming investors.

A farming business, Lincolnshire based Munks Agricultural Contractors Ltd were the successful purchasers following a round of competitive bidding.

The purchasers operate a substantial farming estate covering approximately 7,000 acres throughout Lincolnshire and have acquired the complex as part of their on-going expansion.

Once agreed, the sale was successfully completed in a matter of weeks thanks to a combined effort between the vendors advisors Savills, Tom Footitt at Roythornes solicitors and Simon Giles at Tinn Criddle who represented the purchaser. Paul Giles of Savills commercial team added: "We are delighted to have secured such a quick sale and strong price for our client and we have a number of under bidders who are keen to secure similar opportunities in Lincolnshire."