The Bell Ingram Blog Spot News

Harnessing financial opportunities: Landowners and carbon offset strategies in woodland creation schemes

Harnessing financial opportunities: Landowners and carbon offset strategies in woodland creation schemes

By Stuart McArtney, Forest Manager

In the global effort to mitigate climate change, carbon offsetting has emerged as a critical tool to reduce greenhouse gas emissions. Landowners, especially those with large expanses of undeveloped land, are presented with unique financial opportunities through participation in woodland creation schemes. However, as with any burgeoning market, there are considerations and potential pitfalls that demand careful navigation to ensure sustainable and ethical practices.

Carbon offsetting involves compensating for one’s carbon footprint by investing in projects that reduce or capture an equivalent amount of carbon dioxide from the atmosphere. Woodland creation schemes, a subset of carbon offset programs, focus on planting trees to sequester carbon and enhance biodiversity.

Landowners can benefit financially from participating in woodland creation schemes through various mechanisms. Governments often offer incentives such as grants and subsidies to convert their properties into carbon sinks. These financial incentives can significantly offset the costs associated with planting and maintaining woodlands.

Investing in land for the explicit purpose of carbon offsetting has become an attractive option for environmentally conscious investors and businesses. However, the acquisition process requires careful consideration of ecological factors, regulatory requirements, and long-term commitment. Sustainable practices must be prioritised to ensure the effectiveness of the carbon offsetting initiative.

Distorting the market:

As the demand for carbon offsetting increases, there is a risk of market distortion. Some critics argue that the commodification of carbon may lead to speculative practices, where land is acquired solely for financial gain rather than genuine environmental impact. This raises concerns about the sincerity of carbon offset projects and the potential for greenwashing.

Ensuring ethical practices:

To maintain the integrity of woodland creation schemes, landowners must adopt ethical and sustainable practices. This may include selecting native tree species, implementing proper land management techniques, and engaging with local communities. Transparency and accountability in reporting carbon sequestration efforts are crucial to building trust in the market.

Collaboration and Certification:

Landowners should consider collaborating with reputable organisations and obtaining certification through the Woodland Carbon Code (WCC) to provide assurance that projects adhere to rigorous environmental and social criteria.

In conclusion, the financial opportunities for landowners in the realm of carbon offsetting, particularly through woodland creation schemes, are vast. However, it is essential for stakeholders to approach this market with a commitment to sustainability and ethical practices. By carefully navigating the complexities of acquisition, market dynamics, and ecological considerations, landowners can play a pivotal role in combatting climate change while reaping the financial rewards of responsible carbon offset initiatives.

  • Bell Ingram offers a comprehensive range of specialist forestry services to clients across Scotland. To find out more go to our website bellingram.co.uk or phone 01738 621 121 to speak to a member of our forestry team.

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The Bell Ingram Blog Spot News

Scottish Government launches managing deer for nature consultation

Scottish Government launches managing deer for nature consultation

by Hamish Hope, Surveyor

On 5th January 2024, the Scottish Government launched a consultation on major proposals to change the law around deer management in Scotland.

The proposals outlined in the consultation, Managing Deer for Climate and Nature, are designed to ensure that legislation aligns with challenges posed by the biodiversity and climate crises. 

Surveyor Hamish Hope, from Bell Ingram’s Beauly office, says: “It is widely understood that deer management is a required and effective tool to manage forestry and land. With increasing concerns regarding climate change and the biodiversity crisis, we welcome the opportunity to respond to the consultation and will be encouraging our estate clients to upload their feedback to ensure that any decisions are made with a sound understanding of the issues and implications.”

With no natural predators, people have long been the managers of deer to protect forestry and biodiversity loss while providing much needed employment in rural communities. 

The consultation is seeking views set out within six themes: enhancing the natural environment, compliance, wild deer welfare, changes to close seasons, venison and kept and farmed deer. The purpose of the consultation is to update legislation regarding how deer is managed to ensure the law is fit for purpose to tackle the biodiversity and climate crises.

The new proposals include:

Granting NatureScot additional powers through the creation of Deer Management Nature Restoration Orders. This would allow NatureScot to enter land to carry out deer management activities where it sees fit.

Welfare of wild and kept deer. This includes the recommendations that the use of a shotgun to kill wild deer should be subject to authorisation by NatureScot; the taking of live deer should be authorised by NatureScot; and a code of practice should be produced for the taking or live capture of deer.

Changes to close seasons, recommending the removal of the close season for male deer and to introduce a new order to alter the close season for females to 15th April to 15th.

There are further proposals and recommendations in the consultation for consideration including venison licensing and kept and farmed deer. The full consultation can be read and responded to here and is open for response until 29th March 2024.

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Carbon Overview Page, The Bell Ingram Blog Spot News

The Road to Net Zero: What it means for farmers and landowners

The Road to Net Zero: What it means for farmers and landowners

by Rhona Booth, Senior Associate

In an era defined by the urgent need to address climate change, the UK and Scottish Governments have emerged as global leaders in the race towards a sustainable future. With a commitment to environmental responsibility, both governments have set ambitious Net Zero targets signalling a transformative shift towards a low-carbon, resilient economy.

In Scotland, farmers and landowners hold the key to delivering many of the sector targets, specifically around carbon offsetting, sustainable farming practices, afforestation projects and initiatives to enhance biodiversity.

The Scottish Government also continues to invest in and promote the development of renewable energy projects, aiming to generate a substantial portion of the country’s energy from clean sources.

In this article I explore the financial opportunities around the strategies and initiatives employed by the Scottish Government to fulfil its commitments to achieving Net Zero.

Solar Power: One of the most promising avenues for landowners is the integration of solar energy into the national grid. Scotland’s government has been actively encouraging the adoption of renewable energy, and solar power is no exception.

Developers are actively pursuing solar opportunities across Scotland with hotspots on the East Coast where irradiance levels are highest. Bell Ingram are acting for numerous land owners, negotiating exclusivity agreements, Heads of Terms and assisting landowners and their legal advisors during the option and lease process.  Lease terms are typically 40 years with rentals significantly greater than those generated from agriculture making hosting a solar development and attractive proposition. Bell Ingram will negotiate the best deal with our knowledge of the market and expertise on practical matters of development. The developer will meet the cost of professional fees. Although the connection date to the grid can be up to a decade away due to the constraints on the electricity network, developers are keen to secure land at the present time via an option agreement.

Battery Storage: While solar (and wind power) are integral to the renewable energy landscape, they come with inherent challenges related to intermittency and grid stability. This is where battery storage systems play a crucial role. By storing excess energy generated during peak times and releasing it when demand is high, battery storage helps balance the grid, ensuring a reliable and stable power supply.

Landowners can enter into lease agreements with energy developers for the use of their land to host battery storage facilities. These agreements typically involve regular rental payments, providing a steady income stream for landowners without requiring active involvement in the day-to-day operations.

The land take for battery storage is relatively small, four to 20 acres making this opportunity as an addition to the farming business and income stream. The proximity of a substation is a prerequisite to hosting a battery storage scheme.

Carbon Off Setting: The financial opportunities for landowners in the realm of carbon offsetting, particularly through woodland creation schemes, are vast. However, it is essential for stakeholders to approach this market with a commitment to sustainability and ethical practices. By carefully navigating the complexities of acquisition, market dynamics, and ecological considerations, landowners can play a pivotal role in combatting climate change while reaping the financial rewards of responsible carbon offset initiatives.

Electricity Infrastructure: SSE’s massive £10 billion investment in electricity infrastructure is geared towards enhancing and expanding Scotland’s electricity infrastructure. This includes the development of renewable energy projects, grid upgrades, and the deployment of cutting-edge technology. Landowners situated in proximity to these projects stand to benefit significantly.

One of the primary opportunities lies in leasing land for renewable energy projects such as wind farms or solar installations. SSE’s commitment to increasing renewable capacity provides an ideal environment for landowners to generate steady income through long-term leases.

Beyond renewable energy projects, SSE’s investment includes significant upgrades to the electricity grid. It is important for landowners to engage early with SSE to ensure that their views are taken into account as far as possible in the design of the scheme. New pylons are the unfortunate requirement to secure renewable opportunities across the country and SSE and the Scottish Government has strong statutory powers the roll out their infrastructure programme.

Low-Carbon Hydrogen Economy: The Acorn Project, based in North East Scotland, is a groundbreaking initiative that aims to deliver low-carbon energy solutions. At its core, the project focuses on repurposing existing oil and gas infrastructure to support the development of a low-carbon hydrogen economy.

One crucial aspect of the Acorn Project is the need for gas transportation to the St Fergus terminal and those landowners situated along the gas transportation route to St Fergus have a unique chance to play a crucial role in this transformative journey. By exploring servitude agreements, lease arrangements, and actively participating in community development, it is envisaged that landowners can maximise the financial benefits while contributing to a more sustainable and resilient energy future.

Top Tips:

  • While the financial opportunities are abundant, it is crucial for landowners to navigate the regulatory landscape effectively.

  • Understanding planning permissions, environmental impact assessments, and community engagement requirements is essential for a successful partnership with energy infrastructure developers.

  • Seeking professional advice can help landowners make informed decisions and ensure compliance with regulations.

To find out how Bell Ingram can help your rural business make the most of these opportunities phone 01738 621 121 to speak to Rhona Booth or one of our Rural Land Management team.

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Forestry Case Studies, The Bell Ingram Blog Spot News

Forestry: Multiple benefits even in a quieter market

Forestry: Multiple benefits even in a quieter market

It seems 2023 has been a quieter year for forestry sales, with fewer properties being brought to the open market and agreed sales not seeing such high premiums paid as in the previous few years. One reason for this will be the fall in timber prices, which is obviously linked to the price paid for the growing crop – if returns from timber sales fall, plus there are increased harvesting costs resulting from higher fuel and other related costs, then the price investors are willing and able to pay has to reduce.

Sellers looking to secure high premiums need to be advised to consider the need to sell now or to readjust expectations, even if this is just in the short term. However, global demand for timber in the next 30 years is likely to continue to increase, partly based on the high sustainability of it within the construction industry, and it is well known that timber prices can be somewhat cynical – playing the long game should pay dividends. 

As a long-term investment, forestry remains a good bet, underlined by advantages in both capital gains and inheritance tax liabilities for commercially managed woodlands. Natural capital, carbon and peatland opportunities can also be secured from forestry, although the advice remains to exercise caution before jumping into deals which may hinder future flexibility, impact on the investment value or affect tax benefits.

Elsewhere in the market small amenity woodlands continue to see constant demand. As an affordable, often personal, investment, small local woodlands offer benefits and interests, again with opportunities to enhance a property’s biodiversity, improve public access or offer other community benefits. Enthusiastic owners working with forestry and other nature-based advisors can make big differences to a woodland’s interests in a relatively short time, and if kept for many years, monitoring can really prove these changes.

Finally, the need for firms to enhance their Corporate Social Responsibility (CSR) by getting employees to put something back into the community and the environment, means charities like The Woodland Trust or Wildlife Trusts can benefit from free input from volunteers. Planting new trees, clearing out invasive Rhododendrons or putting in a new footpath route also help cement the public’s engagement with woods in their locality.  Bell Ingram foresters and land agents can advise clients on suitable works for volunteers. Our staff are indeed encouraged to put on their own boots for nature-based volunteering activities as part of our efforts for both internal team building and enhancing the environment – watch this space for evidence!

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The Bell Ingram Blog Spot News

City and countryside top of the list for Perthshire buyers

City and countryside top of the list for Perthshire buyers

Perthshire’s property is witnessing a rising trend of buyers seeking a balance between urban conveniences and rural tranquillity. Properties that offer proximity to city amenities while being surrounded by the region’s stunning landscapes are in high demand. The market also shows an inclination towards eco-friendly and sustainable homes, as buyers prioritize energy efficiency and green living.

In this blog our Perthshire Estate Agents take a look back at some of the highlights of the 2023 market.

1 Ladeside, Kinross

No. 1 Ladeside is part of a courtyard development of four homes on the edge of Kinross, with attractive views out to the Ochil Hills. It has a private walled garden and a paddock to the east side of the property which extends to about two acres. The extensive accommodation, including five bedrooms, totals 280m2  and is spread over two floors. The fixtures and finishes are of exceptional quality and include oak facings and doors, limestone flooring throughout the ground level, and a large conservatory at the rear.  

2 Castle Hill View, Rumbling Bridge

Fixed price £650,000.

Sold from plan, this family home is set within a small development of four detached homes in a semi-rural location with magnificent uninterrupted views, yet with easy access to local amenities and well respected schools. The appeal of high quality build and eco credentials meant interest in this property was in high demand.

Grange of Errol Development, Errol

Prices from £539,000.

Our estate agents witnessed huge demand for the Grange of Errol a development of luxury eco homes built by The Good House Company, with all houses reserved in the first week on being on the market. The Good House Company was founded in 2006 and is renowned for producing homes that are A-rated for energy efficiency, vital to compensate for the ever-increasing cost of fuel bills. They are super insulated and are heated by low-carbon technology. Their future aim is to build homes that are carbon-neutral and they are passionate about not sacrificing quality of finishes in order to be an ‘eco’ home – you can have both.

Maryfield, Meigle

Offers over £360,000.

Period properties will always be in high demand and Maryfield in the Perthshire village of Meigle is a great example. A handsome period property dating from the late Victorian era, with a later extension to the rear with well-proportioned rooms retaining many of the typical features expected in a house of this period.

Our Perthshire Estate Agents are looking for similar properties to sell across the Perth and Kinross area. If you are thinking of moving, discuss our market appraisal contact Carl Warden on 01738 621121 or email carl.warden@bellingram.co.uk.

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The Bell Ingram Blog Spot News

Busy year of transactions for Oban Estate Agents

Busy year of transactions for our Oban Estate Agents

It has been a busy year of transactions for our Oban Estate Agency. Operating across Argyll & Bute and the Inner Hebrides our west coast property experts have continued to witness a surge in the demand for second homes and holiday retreats. Buyers are looking properties that offer an escape from urban life, with a focus on outdoor activities such as hiking, fishing and water sports. The region’s rice history and cultural attractions further enhance its appeal, making it a popular choice for both domestic and international and buyers.

There is an increasing interest in reviving old properties while preserving their original charm. This trend aligns with a growing appreciation for sustainable and eco-conscious living, as restoration often involves repurposing existing materials.

Here is a selection what our Oban Estate Agents have sold in 2023.

Craighrannoch, Ballachulish

Guide Price £800,000.

Set in a picturesque, secluded coastal location on the shores of Loch Leven and on the fringe of the coastal village of Ballachulish, Craighrannoch is a traditional stone villa, perfectly positioned to enjoy the panoramic views.

Cuilcheanna & Cuilcheanna Cottages, Onich

Guide Price £1,045,000.

Cuilcheanna presented a wonderful lifestyle opportunity for the right buyer with a five-bedroom family home and four well established holiday cottages, located within the ever-popular coastal village of Onich. This property offered an excellent opportunity to escape city life with an established holiday business and substantial income potential.

Achavaich, Connel

Guide price £495,000.

This beautifully presented traditional farmhouse with converted barn, set in a much sought-after location on the fringe of the coastal village of Connel and benefitting from far reaching views across the local countryside. This beloved family home offered buyers idyllic family life and carefree rural living coupled with easy access to the thriving coastal hub at Oban.

Our Oban Estate Agents are looking for similar properties to sell across Argyll & Bute and the Islands. If you are thinking of moving, discuss our market appraisal contact Andrew Fuller on 01631 566122 or email andrew.fuller@bellingram.co.uk.

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The Bell Ingram Blog Spot News

High quality of life still fuelling Highlands & Islands property market

High quality of life still drawing buyers to the Highlands & Islands

Bell Ingram’s Highland Estate Agency team reflect on 2023 as the Highlands & Islands region continues to experience high demand caused by the rise of remote work. As more professionals embrace flexible work arrangements, there is a growing interest in properties that offer a high quality of life in a remote setting. Waterfront homes, cottages with sea views, and properties nestled in nature are becoming coveted choices for those seeking a quieter and more serene lifestyle.

Here is a selection of what our Highland Estate Agents have sold in 2023.

7B Drimisdale, Isle of South Uist

Offers over £525,000.

7B Drimisdale presented buyers a beautiful four-bedroom architect-designed house with studio annexe and approximately 14.17ha (34acres) of croftland in a peaceful lochside location on the Isle of South Uist. Perfect for wildlife enthusiasts this property’s idyllic location overlooked Loch Stilligarry which hosts a variety of rare and beautiful species.

Burnside of Enzie, Buckie

Offers over £335,000.

Burnside of Enzie offered buyers an immaculate steading conversion with four en-suite bedrooms set in the tranquil, rural location of Clochan near Buckie. The steading was built to the highest standard with quality oak finishing throughout.

Cuil Breac, Elphin

Offers over £300,000.

Nestled in the dramatic landscape of Elphin in the Scottish Highlands, this former croft house is a mountain lover’s dream home. Packed with character, the cottage included a recently completed extension which has wonderful living space where one could sit back and enjoy the views of the surrounding mountains and lochs.

Ty Cymro, Isle of Berneray

Offers over £180,000.

This unique property was one of a handful of traditional thatched black houses remaining on the islands. Rare to market this property was brimming with charming features and breath-taking views. Ty Cymro presented the perfect island home filled with charm and a great opportunity for buyers looking to enjoy an idyllic rural lifestyle.

Bay Cottage, Carinish

Offers over £325,000.

Bay Cottage is an exceptional modern and stylish design-led two bedroom waterside eco house located on the island of North Uist. Completely renovated and extended to the highest standards with unique, high-quality features and finishings throughout.

Our Beauly Estate Agents are looking for similar properties to sell across the Scottish Highlands and Islands. If you are thinking of moving, discuss our market appraisal contact Joanne Stennett on 01463 717799 or email joanne.stennett@bellingram.co.uk.

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Rural Land Management Page, The Bell Ingram Blog Spot News

Heat in Buildings Bill – Potential impact on privately let residential properties in Scotland

Heat in Buildings Bill – Potential impact on privately let residential properties in Scotland

Anyone involved in Scottish residential property management has been growing increasingly frustrated by the limited information available around the reform of Energy Performance Certificates (EPCs) in Scotland.

Initial legislation was drafted in 2019 but binned in 2021 due to Covid, and since then landlords and property managers have been left in limbo, knowing that changes to the minimum standard are coming but not knowing when they might come into force or what they might involve.

However, more detail emerged this week when the Scottish Government opened the consultation on the proposals for Heat in Buildings Bill.

This consultation confirms that the Government plans to require private landlords to meet a minimum energy efficiency standard by the end of 2028, and by the end of 2033 owner occupied homes will also need to meet a minimum energy efficiency standards.

So, what will the minimum energy efficiency standard be?

For years now, it has been known that a minimum EPC score is incoming but there has been a lack of clarity on how this might be achieved, and if there are going to be any exclusions or if there is going to be a price cap.

This new consultation proposes that minimum energy efficiency standards can be met by installing a straightforward list of measures. This list would be developed to ensure the biggest impact with the lowest degree of cost and disruption. It is important to note that the consultation says:

“Any homeowner who had installed these measures – or as many of them as are feasible for the type of home they live in – would be considered to have reached a good level of energy efficiency and meet the new standard.”

This is reassuring as it confirms that not all proposed measures will need to be met in every single property. The consultation suggests that the list could be:

  • 270mm loft insulation

  • Cavity wall insulation

  • Draught-proofing

  • Heating controls

  • 80mm hot water cylinder insulation

  • Suspended floor insulation

Many landlords and homeowners will have made energy improvements to their properties already; therefore this consultation proposes that alongside the above measures, there could be an alternative option of meeting these standards based on the result of an EPC assessment.

It is proposed that owner occupied homes that have ended their use of polluting heating, gas or oil for example, by 2033 will not be required to meet the minimum energy efficiency standard. However, private rented properties would still be required to meet the minimum energy efficiency standard, even if a clean heating system is already in place.

Finally, there is a hint of clarification around the consequences to landlords if their properties do not meet a minimum energy efficiency standard. The consultation proposes that properties in the private rented sector which do not meet these standards by the end of 2028 would not be allowed to be leased to a new tenant should the existing tenant leave.

The consultation on the proposals for Heat in Buildings Bill began on 28th November 2023, and is due to close on 8th March 2024.

The consultation can be read in full here.

Please contact Bell Ingram’s Rural Land Management team on 01738 621 121 if you have any questions and would like to discuss how this may impact your properties.

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The Bell Ingram Blog Spot News

The balancing act of juggling care with career

Juggling care and career: Why supporting carers in the workplace is the right thing to do

My lovely mother-in-law describes her 50s, 60s and 70s as her “golden years”. As she keeps reminding my husband and I: “Your father and I were travelling the world when we were your age, or we were out and about meeting friends or at the bowling club.”

And so they were! Able to draw their pensions (state and private) at 60 and 65-years-old respectively, they enjoyed a long, happy and comfortable retirement unencumbered by caring responsibilities either for each other or for their parents who had passed away decades beforehand.

At 57, my “golden years” on the other hand are shaping up somewhat differently. Since May 2022 when my mum (86) collapsed with sepsis from a urinary infection, I’ve been sharing her care and that of my 92-year-old father, who has late-stage prostate cancer, with my younger sister (53), who is herself recovering from cancer treatment. Both mum and dad are now housebound and require 24-hour support which includes everything from meal preparation to toileting.

Fortunately, we were able to access a council care package for mum, which means two carers visit four times a day, but my dad is still waiting to be assessed. To pick up the slack and allow our much-loved parents to remain in their own home, my sister has given up her full-time job to be their primary carer with me staying over 48 hours each week to give her a break.

Added to this are my caring responsibilities for my mother-in-law who, despite living quite independently at 93-years-old, was widowed during the Covid lockdown and requires help with shopping and all the other bits and pieces that become so much more difficult when we get that little bit older.

Throughout all of this my job as Marketing Manager at Bell Ingram has been a lifeline, not just financially (as my husband was forced to retire earlier than expected due to a stroke), but as a means of living a life outside caring. Just having a natter with other people and hearing the banter of office life is a real tonic when things are rough at home.

I consider myself extremely lucky to work for a company which believes that supporting carers is the right thing to do and this ethos has allowed me to stay in a job that I love and progress my career.

It’s important to stress that Bell Ingram doesn’t just pay “lip-service” to carer inclusion. In practical terms, my boss has given me the green light to work from my parents’ home two days a week which has been a game-changer. Instead of driving back and forward from Perth to Glasgow twice a week, I now have a home office in their flat where I can do a full day’s work, while still being available to cook meals, let in doctors and carers, and keep an eye on them during the night.

Being a carer can be overwhelming at times and I also count myself blessed to work with people who have been amazingly supportive when I’ve had a bit of a tearful meltdown in ladies’ loo or on one mortifying occasion while serving drinks at our stand at the Royal Highland Show!

I am also part of Bell Ingram’s Carer Network which was formed recently as a platform for colleagues who identify as carers to talk frankly about the challenges of juggling our caring responsibilities with our working lives.

We met for the first time on Teams earlier this month and I found it really helpful to share my experiences with people who fully appreciated the physical and emotional toll of caring for loved ones.

It was also a chance to share information about the support that’s available from local or national charities, benefits that can be claimed, and tips on how carers can maintain their own well-being.

I know it’s a cliché but the last three years have been a rollercoaster for me and my family, and it’s taught me to be grateful for what I’ve got, to celebrate the small wins and not dwell on the future. I may not be travelling the world like my in-laws did at my age, but I have my family, my friends and a job I love … and that’s more than enough.

 

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