A farm on the Roseland Peninsua has become the highest value farm sale of the year to date in the south west.

Penhallow, a 570 acre arable farm, changed hands in a multi-million pound deal.

The sale included a five bedroom farmhouse, three bedroom annex, detached thatched cottage and 58 acres of coastal land.

A number of local firms were involved in the deal, including Stephens Scown LLP and Robinson Reed Layton.

Stephens Scown acted for the sellers. Christian Wilson, partner and head of the firm's corporate team led a team of four partners and two solicitors in bringing the matter to a successful conclusion.

Kate Theophilus, partner from Stephens Scown's rural services team, who advised on the property and farming issues of the transaction, said: “The scale of the land and assets involved meant that this was progressed as a share sale, rather than a more usual property asset deal. We are currently dealing with a number of other farm sales running into millions, which bodes well for the sector.”

James Bailey and Paul Reed of Robinson Reed Layton provided accountancy and tax advice to the sellers, and assisted them with the “due diligence” enquiries from the purchaser.

Photograph supplied. Caption: Kate Theophilus, partner from Stephens Scown's rural services team