Crown Estate tenants express interest in buying farms
Twenty-two tenant farmers have expressed an interest in buying the holdings they currently lease from Crown Estate Scotland.
The farms are on the Applegirth Estate in Dumfries & Galloway, and the area around Auchindoun in Moray, which are both part of a pilot initiative to increase diversity of land ownership in a planned and managed way.
The tenants have now been advised they will move to the next part of the process and have been given an anticipated timescale for this stage which will involve the preparation of detailed sales reports, setting out what they can expect if they go ahead with the purchase.
The initiative provides an opportunity for tenant farmers to own their own farms and has the potential to generate funding to help Crown Estate Scotland deliver on its commitment to invest £70m over the coming years to generate lasting social, economic, and environmental benefits for communities across Scotland.
Sarah Tyson, Bell Ingram’s Head of Valuations and AMC Agent, said: “Crown Estate Scotland is the first landlord of this size to give tenants this option and the sector is watching with interest to see if this pilot will be rolled out across their remaining rural estates.
“The opportunity to buy your farm can be an exciting prospect, especially if you are offered a discounted purchase price as a sitting tenant. However, there are a number of areas you must consider before making such a major financial decision and I would recommend tenants always take good professional advice on the options being offered, particularly when negotiating the purchase price or agreeing a settlement for relinquishing the tenancy.”
Buying your farm tenancy? Find out how Bell Ingram’s AMC agents can help and the funding options available. Contact Sarah Tyson on 01738 621 121, or email firstname.lastname@example.org.