Some Qs for the AGM, page-30

Hi Treefeller,

One of the key principles of property valuation is the 'highest and best use' principle. A valuer will always look to the highest economic use that the land can be put to based on planning, state of the asset, current improvements etc. This is how someone purchasing the land will look at it.
On top of this will be the instruction to the valuer which is most likely to have been, 'an open market valuation for financial reporting purposes'.

Whilst I haven't valued farms directly the principles remain similar. The valuer will have taken into account the state of the land when comparing it with other comparable sales. This should include some level of cost to 'make good'.

I am not sure but you could ask the company for a copy of the valuation. Depending on your holding they may oblige.