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Spring / Summer 2019
Aspects of Land
FOREWORD
R
ural businesses raise their
income from a wide and
wonderful range of activities.
Indeed, diversification has
been a common theme in
these pages for many years and remains
one of the tenets of a successful rural
business, even as the range of activities
on offer changes from year to year
as new consumer trends and the
development of new technology
influence the market.
Against that backdrop, these businesses
have always needed to be fleet of foot and
alive to changing demands, demographics
and markets to remain relevant.
They will also be shaped by the
incentives provided by different
government policies; right at the heart of
those now emerging is the Government’s
current priority – and mantra – “public
money for public goods”.
This not only reflects general
sensibilities about public payments being
perceived and valued by the taxpayer in a
more palatable way, but is also in line with
the Government’s 25-year Environment
Plan. Farmers and landowners need to
consider how their land can be of most
value to the public both to receive public
money and also for the growing area of
private investment in “natural capital”.
Payment models for natural capital are
still in their early days, but there is the
potential for the contribution made by
natural capital to initiatives such as flood
alleviation and carbon sequestration to
be assessed – and rewarded – in a more
holistic way in the future. The direction of
travel is clear.
Less clear, is the UK’s future
relationship with the EU and what level
of independence there will be. Although
this is frustrating for many rural
businesses, testing times do make
businesses ask themselves testing
questions, and that’s not always a bad
thing. It is the businesses that address
their weaknesses and invest in their
strengths that will be the ones who
are thriving – and not just surviving
– when we finally come out on
the other side of this period of
uncertainty.
Questions to ask aren’t just
whether you are making the most of
your assets to create an income,
but also whether you have
reduced your costs as much as you can
to boost the margins. This varies from
looking at energy use and making sure
none is wasted to looking at how savings
could be made through collaborating with
your neighbours.
Many of these ideas are just good
practice. There are plenty of business
decisions that you can make now
irrespective of how the final Brexit
deal turns out, and it is important not
to get drawn into the understandable
temptation to apply a “wait and see”
argument to running your business.
When we look back in five years time,
we will see that the long-standing and
inherent ability of UK agriculture and
rural businesses to adapt to changing
circumstances will shine through as it
always has done.
I hope you enjoy reading this issue
of
Aspects of Land
and if you have
any comments or questions, please
do get in touch.
Andrew Harle
Joint Head of Savills Rural
01904 756 312
aharle@savills.comAsk the right questions
F
eatures
10
Agriculture Bill
Research shows it’s already affecting farmers
14
Working together
How collaboration can save the bottom line
16
Change of use
The many different ways to diversify
19
Future present
Five technologies to watch
22
Succession planning
Expert advice on passing on wealth
26
Growing returns
Why forestry makes a sound investment
Regulars
04
Intelligence
New knowledge from Savills and the rural sector
28
Focus on
Lydney Park balances family life with visitors
31
Market update
Recent trends and properties for sale
34
Final say
David Shaw from Savills Architecture discusses the future
32
Savills services
Contact details for Savills rural professionals
Aspects of Land
is published on behalf of
Savills (UK) Ltd by Casella Productions.
All information correct at time of going to
press. All rights reserved. Articles may not
be reproduced without written permission
of Savills (UK) Ltd. While every care is
taken in compiling the content, neither the
publisher nor Savills (UK) Ltd assumes
responsibility for effects arising from
this publication. Investment advice: The
information and opinions contained in this
magazine do not constitute professional
advice and should not be relied upon.
Specific advice relating to your individual
circumstances should be obtained.
COVER IMAGE:
HELEN HOTSON / ALAMY
LEFT:
THE NATIONAL TRUST / ALAMY