Lichfield's estate sells for £34.55m

Lord Lichfield's Ranton Estate near Stafford has been sold for just over £34 million.

It has been bought by London based Grainger plc, the United Kingdom's largest quoted residential property owner.

Ranton Estate agent Clive Beer today refused to comment on the sale which includes Ranton Abbey.

He said no announcement would be made until the vendors have had the opportunity of talking to the tenants. The estate, which lies between Gnosall and Woodseaves, has some 60 house and cottages, most of which are rented.

It also includes one of Staffordshire's largest and most prestigious pheasant and partridge shoots.

Mr Beer said he was hoping some form of statement would be released within the next two weeks.

But a posting on the stock exchange confirms that Grainger has already exchanged contractors with the trustees of the estate for a price of £34.55 million in an "off-market" deal.

It adds the 5,200-acre estate has around 60 houses and cottages – the majority of which are held under Assured Shorthold Tenancies, and produce an annual rent of £762,000.

The land is predominantly held under a mixture of Farm Business Tenancies and Agricultural Holdings Tenancies.

Lord Lichfield, 66, collapsed while out with a shooting party near Oxford in 2005 and died in hospital.