Land To Be Marketed For Sale On Buccleuch’s Borders Estate

Land To Be Marketed For Sale On Buccleuch’s Borders Estate
28th September 2018

Buccleuch announced today that it is marketing the sale of forestry and agricultural land on its Borders Estate.

Occupying a position close to the A7 road to the south of Langholm at Canonbie in Dumfries and Galloway, the land comprises around 8,959 acres of agricultural and forestry land which is available as a whole, or in 18 separate lots as part of the Evertown portfolio.

Buccleuch said today that any sale of land encompassing tenanted farms would see current leasing agreements honoured.

Tenant farmers who live on their farms on long-term tenancies have been offered the opportunity to purchase their farms ahead of the open sale process. Farms currently occupied on 1991 Act tenancies, which are secure agricultural leases, are not part of the sale.

Buccleuch chief executive John Glen said: “As the Buccleuch business continues to evolve, we have to reflect the fact that the productive use of land is a far more complex proposition than it was previously. We are committed to achieving the best use of land possible and part of that strategy involves reducing our footprint. These land holdings being brought to market offer a wide variety of opportunities for prospective owners.

“Due to the structure of the portfolio, we expect the sale process may take some time and we will appraise tenants and staff at the estate as soon as matters develop. We have been in discussion with tenant farmers who have expressed an interest in buying their farms for some time and these are continuing. Other tenant farmers who have not yet indicated an interest to buy can, of course, do so. Farms occupied on 1991 Act tenancies are not part of this marketing and current lease arrangements on other farms would be honoured by the new owner as we have stipulated as part of the sale process.

“We have also held discussions with a range of community groups in the area to understand their aspirations. We are in discussion with groups that have expressed an interest to acquire land. The majority of groups, however, indicated they were satisfied with their current agreements with us to lease or utilise land for amenities such as sports pitches and play areas.

“Selling land will allow Buccleuch to care for its remaining holdings more manageably whilst enabling the business to invest the capital it raises in other parts of our rural enterprises.”

Charles Dudgeon of Savills, which is advising Buccleuch, said: “Evertown is a significant rural portfolio comprising equipped farms, productive farmland, commercial forestry and extensive planting opportunities. While the properties sit in a beautiful part of the world, amidst a rolling landscape, they are conveniently located close to the main Edinburgh to Carlisle trunk road, providing quick access to the motorway network.

“We are anticipating a good level interest at a time when there is a lack of supply and opportunities across the UK.”