A fast changing rural sector in Scotland
With recent announcements on CAP, Land Reform, the Agricultural Holdings Review – and not to mention the small matter of the Independence Referendum – there is a lot for the rural sector to get to grips with in Scotland this year, and it has been relatively slow as a result. However, despite this uncertainty the rural agency team are involved in some significant deals including the private sale of the 12,000 acre Glenforsa Estate on Mull and the launch of the 2,500 acre Lundie Estate in Angus at offers over £9.3 million. We are also marketing a beautiful Killean Estate in Kintyre for £5.5m. A total of 1,015 acres at Southside and Blinkbonny Farms, just ten miles outside Edinburgh in Midlothian, is the largest arable farm in the Lothian being offered for sale for a generation and is for sale at offers over £4.5million. Meanwhile, the sale of Tanera Mor, the largest of the Summer Isles, off the North West coast of Scotland, has received interest from 44 different countries from around the world.
The Land Reform group have identified 60 recommendations for change touching on areas such as: succession laws; sporting rights and rates; reintroduction of farmland rates; compulsory purchase of land; promotion of secure tenancies; taxation and restricting the amount of land owned by one individual. In this political climate it will be those landowners who strive to be entrepreneurial rather than feudal, those who provide local opportunities for employment and housing for land, and those who engage with their local communities, relishing their role as guardians of the Scottish countryside, who can look forward to the future with confidence.
Whether you have questions about property tax; how much your land and property is worth; valuation; buying or selling; residential developments; renewable and strategic projects, or sporting enterprise, our key message in this fast changing rural world is – do not panic! Take your time, and seek professional advice, in order to properly consider the implications for your holding.
With the Referendum less than three months away, we can expect the lull we normally experience in the rural agency market over the holiday period to be extended this summer. All markets prefer certainty and we are confident we will have a much more active and genuine market across all our disciplines following the vote.