Savills |

aspects of land

| spring / summer 2017

inding alternative sources of income to support

an estate, especially where there is a large, historic

house to maintain, is nothing new. Traditionally

agriculture and residential lets have provided the backbone

of income, 80 per cent on an average estate. However, over

the last three years the income that comes from trading,

commercial and leisure enterprises has grown by 60 per

cent, according to Savills Estate Benchmarking Survey.

For those looking at leisure-based diversification,

there is a wide range of potential activities to consider

– everything from day visitor enterprises through to

weddings, corporate events, holiday cottages, glamping

and festivals. Chosen correctly and done well, this type

of diversification has a number of benefits, says Simon

Foster of Savills Commercial Heritage Consultancy.

CHANGING

PLACES

DIVERSIFICATION

Maintaining a country house is no

cheap affair and as a new generation

of owners take over the reins they are

finding new ways to raise income