As well as the traditional low-risk core property sectors, investors are now giving increased attention to the property investment opportunities available from higher-risk value-added and opportunistic property. In particular, farmland is seen as a long-term investment which receives investor attention in many countries and potentially provides added value in a portfolio. This paper will analyse the performance of UK farmland over the period 1981-2005. This analysis will assess the total return from rural properties in the UK and compare this performance to commercial property returns (total, office, retail, industrial), equities and gilts over this 25-year period. The analysis will be based on the IPD UK farmland index and the IPD property index. The portfolio diversification and risk-reduction benefits of UK farmland will be highlighted.