B&Co Pointer inc Particulars

Mr D Pointer 21 st November 2017 Page 4 of 5

Marketing Budget Summary

To summarise, the proposed estimated marketing spend is below:

Brochure and associated costs

£350 £370 £200

Advertising

Board

TOTAL

£920 plus VAT

6.

Guide Price & Likely Sale Proceeds

Guide price strategy is important, experience has shown that setting a sensible guide price is key to attracting the maximum amount of interest from which to generate a potentially competitive situation with a view to driving the price up.

As explained when we met, the agricultural land market is hugely variable with a wide range of values being achieved.

The quality of the land, cropping potential and issues such as irrigation has some influence on value but the principal factor is location. In areas where acquisitive well-funded neighbours are in a competitive situation against outside investors we have seen prices such as £12,000 per acre paid for straight forward blocks of bare arable land. Elsewhere, we have seen comparable quality parcels struggle to reach £7,500 per acre. Correctly exposed to the market and with the best possible marketing material the land will find its own level and we would set out to achieve the best possible price for you. However, guide price strategy is important. Given the location, attractive nature, quality and long-term development potential we would expect to achieve a figure at the higher end of this range, and, if a competitive situation can be engendered, we would hope to exceed this. You explained on site that you had received offers in the region of £14,000 per acre from your neighbours last year. As such, you would not be willing to accept an offer to sell for less than £12,000 per acre. With this in mind we would recommend guiding the property at this level and we would set the guide price at £780,000 for the whole. However, as discussed, on this occasion, given how keen we would be to work with you on in respect of this transaction, we would be willing to reduce our commission rate to 1.25% of the sale price with marketing costs as set out above and VAT in addition. 8. Summary Thank you again for asking us to advise you. We hope that this letter provides an appropriate amount of detail at this stage in your decision making process. I know that this will be a family decision and if it would be helpful we would be happy to meet with the family to discuss this proposal and the best way forward and to go over any questions. Given our experience and knowledge of the local market I am confident that we are best placed to get the best result for you all and we would very much enjoy looking after you through this important process. 7. Instructions and Terms of Engagement Our standard sole agency fee is 2% of the sale price. Disbursements and VAT are paid in addition to this.