The result for £408 from 1788 compared to 2018 is here:
That puts the figure in what I suspect (given what the NA version says you could have bought with it back in 1788) a more robust equivalent of about £46-48,000 (measured as real worth, or for project capital cost). Given it is for agricultural land that feels about right.
Ps: It's also quite a good site for running old probate and will values through... and then weeping when you realise all the family money disappeared about 6 generations ago!
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