Property • Land • Projects • People 2013

spotlight on Residential diversification Farming energy efficiency Land Management Planning makes the grade Development market trends Resources & Energy and analysis Valuations struttandparker.com a question of independence

pp01-12_&Scotland_Cover_desFIN.indd All Pages 25/03/2013 09:52 pp02-03_&Scotland_Intro_desFIN2.indd 2 22/03/2013 15:20

photography (cover, leys estate; this page, logie estate) Peter Sandground pp02-03_&Scotland_Intro_desFIN.indd 3 W Agency Partner, Estate Andrew Rettie Welcome to& byStrutt&Parker The Partners team We lookforward toworkingwithyou. land remaininvaluableassets,todayandinthelongterm. and skillstheyneedtoensurethattheirproperties you howourteamscangiveclientstheknowledge,tools services weofferacrossScotlandandglobally, andshow We hopethe followingpagesgiveyouaflavourofthe bespoke customerservice. of expertiseareunrivalled,asisourcommitmentto of thecountry’s finestfarmsandestates.Ourlevels – fromresidentialsalesinthecitytomanagingsome teams havehugeexperienceinawiderangeofservices We areina strong position.Strutt&Parker’s dedicated and assistancetostayonestepahead. standing stilltoofferourclientsthesoundestadvice and challenges,weknowtheimportanceofnever fronts. With achangingagendacomeopportunities stage on both domestic and international stage onbothdomesticandinternational in thespotlightasneverbefore,takingcentre political andeconomiclandscape,Scotlandis e liveinexcitingtimes.With anevolving Management Partner, Land Robin Maitland Agency Partner, Estate Andrew Smith INSIGHT Management Management Partner, Land Andrew Hamilton

Page 15 Page 14 Page 12 Page 11 Page 08 Page 06 Page 04 Contacts: A questionofindependence Parker townandcountryexperts A dayinthelife:withStrutt& Energy ontheagenda Leys Estateonfacingthefuture A familyaffair:theBurnettsof Trends and projectsinthespotlight First Contents & foremost:hotproperties & analysis:expertviews our servicesandteams struttandparker.com

11/03/2013 13:31 03 AROUND SCOTLAND First & foremost FLYING IN THE £260m FACE OF TRADITION combined budget of our registered estate purchasers

a room 27 with a view Scottish hydroelectric schemes brokered by Strutt & Parker The Links, St Andrews Probably the finest view in the golfing world. Such bold statements rarely feature £3,795,000+ The Control Tower, on property particulars. Then again, for the sale of a 667-acre arable Clathymore, Perthshire properties like this rarely come to market. and livestock farm in the Borders Increasingly, the Strutt & Parker teams The Links, a traditional double upper are turning their expertise to unique, apartment in historic St Andrews, modern projects. The Control Tower, commands extraordinary views of the an exciting redevelopment on a former world-famous first fairway and 18th 18 ,000 airfi eld in Perthshire, is a perfect acres of farmland entered the green of the Old Course, the West Sands example. The Category C listed market in Scotland in 2012 and the Royal & Ancient Golf Club. building is to be restored and In the face of competition, one lucky transformed into a stunning American buyer sealed the deal. contemporary home by local offers over £1,750,000 SOLD £760,000 architect James Denholm for The average value of transactions, Stephen Country Homes. The four- Edinburgh City Residential storey house has been designed to maximise the stunning views of the moray’s historical surrounding countryside, which is famous for its beauty and the wealth masterpiece FARMING REAPS REWARDS of recreational opportunities on offer. Asking price £1,250,000 Blervie House, Moray In 2011, the sale and purchase of estates was the dominant Contact 0131 226 2500 FOR SALE Secluded, picturesque and ideally located just south of Forres, trend. What a difference a year makes. ‘The focus was fi rmly historic Blervie House is in many ways the perfect country home. on the sale and purchase of farms in 2012,’ says Robert ‘The area is well known for its mild climate and varied landscape, McCulloch, Partner in the Edinburgh offi ce. ‘The star of from an attractive coastline interspersed with traditional fishing the show was Chapel Mains Farm, a 667-acre arable and villages and beautiful beaches to the rich farmland that rises up livestock farm in the Borders. Launched to market as a to the Cairngorms National Park,’ says Kevin Maley, Partner in the whole or in lots for a combined asking price of £3,795,000, BEST PRACTICE PAYS OFF Inverness office. ‘Designed by eminent Scottish architect JM Dick it attracted 30 viewings and was sold as a whole well in The use of up-to-date moorland management techniques is Peddie, the house is considered to be an Edwardian masterpiece.’ excess of the asking price. This is hugely encouraging for proving to be a sound investment across a growing number offers over £2,500,000 bypass success 2013. Correct pricing and good marketing will attract buyers.’ of grouse moors in Scotland. Recent Game and Wildlife contact 0131 226 2500 / 01463 719171 FOR SALE struttandparker.com/rural/farming Conservation Trust research has shown that grouse shooting When plans for the proposed in Scotland generates income of over £23 million per annum bypass resulted in the relocation of the and provides more than 1,070 full-time jobs. Hamiltons’ thriving cattery and equestrian ‘Clients who have invested in their moors are seeing a return business, Ian Thornton-Kemsley, Consultant on their investment by having a shootable surplus of in the office, took up the cause. grouse to let,’ says Ralph Peters, Partner in Land Staying one step ahead in the minefield Management in the Banchory offi ce. ‘Sound of compulsory purchase legislation, management resulting in a grouse surplus environmental health legislation and brings in income, benefi ts wildlife, boosts planning consent rules and regulations, local employment and attracts visitors Ian secured suitable compensation and to remote rural areas.’ the Hamiltons’ business opened in its The managed burning of heather, new location last year. Ian has recently tick control and the legal control of been appointed to the RICS Scotland vermin not only help to improve Compensation and Compulsory Purchase grouse habitat and health, but Forum, which is looking to make also promote biodiversity and recommendations for legislative change in enhance the populations of this complex area to the Scottish Parliament. many other moorland birds.

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pp04-05_&Scotland_F&F–desFIN.indd 4 07/03/2013 12:53 pp04-05_&Scotland_F&F–desFIN.indd 5 13/03/2013 10:17 MARKET OVERVIEW Trends & analysis Following a challenging year and ongoing economic uncertainty, Renewables report Land development Strutt & Parker’s Scottish experts ‘Renewables is perhaps the fastest more certain future for Always a hot topic, land take stock. Dave Flanagan reports moving area of land management fragile communities. The development is currently facing at the moment,’ says Nigel Fraser, major stumbling block is a host of additional pressures. Eyes on Edinburgh’s Inverness-based Partner in Land funding, with most banks ‘Persuading developers to residential market Management. ‘You can’t afford still reluctant to finance part with their cash is hard,’ not to think about it because schemes against projected says John Wright, Head of Traditionally buoyant, the you’ll get left behind.’ Feed-in-Tariff income. Planning & Development based Edinburgh residential market According to Nigel, small- ‘The banking issue is the in Edinburgh. ‘There’s an hasn’t entirely escaped the to medium-scale wind and most challenging factor in increased emphasis in the Farms and estates update fallout from the global economic hydro-electricity generation the industry, which is quite Taxing times planning system on the crisis, with fi nance availability schemes offer a lifeline for incomprehensible in my opinion,’ effectiveness and deliverability Farm sales remain fi rm as persuade buyers from around the the burning issue for buyers in estates looking to diversify says Nigel. ‘Renewable energy A minefield at the best of times, of the land supply and issues agriculture continues to buck world to invest in Scottish estates 43% the capital. But this hardening of and secure a reliable, long-term has the potential to preserve the Inheritance Tax system has and difficulties associated the economic trend, but an despite these short-term YEAR-ON-YEAR a tough and competitive market source of income. our natural resources and countless added pitfalls for with the delivery of affordable uncertain fi nancial climate challenges and perceived threats.’ INCREASE IN may actually benefi t those agents ‘Renewables projects facilitate environments. It is a very estates failing to get their housing. In addition, major in Europe and the Scottish While Robert is keen to avoid SCOTTISH FARM with more experience. development that just wouldn’t important part of our future.’ house in order. house builders are focusing SALES BY STRUTT independence debate are causing being drawn into the politics & PARKER IN 2012 ‘In terms of the number of happen otherwise,’ says Nigel. ‘For landowners it has become more on flagship sites and banks ripples in the estates market. of the independence debate, he transactions handled, 2012 was ‘From new buildings and housing far more favourable to ensure, are reluctant to lend to small ‘Although the economy’s does sense that uncertainty over similar to 2011, which was one to improvements to property and where possible, that they are and medium-scale developers not in brilliant shape, some Scotland’s future is infl uencing of our record years,’ says Blair maintenance of roads, it changes seen to be carrying out a trading in peripheral areas.’ farmers are making money potential buyers. ‘We’ll continue 50% Stewart, Partner and Head of everything for estates and activity, rather than what John believes that more OF THE £2M+ and that continues to drive to give our clients a transparent PROPERTIES SOLD IN Edinburgh City Estate Agency. surrounding communities.’ HMRC views as an investment creative and flexible solutions the market,’ says Robert and honest appraisal of what’s EDINBURGH CITY THIS The market remains active for Strutt & Parker continues activity,’ explains David Smart, to land promotion, and McCulloch, Partner in Estates happening and avoid talking up YEAR WERE HANDLED properties in the £400,000– to play a central role in a Land Management Partner development negotiations, BY STRUTT & PARKER & Farms Agency. or talking down the market,’ £900,000 region and for family number of key renewables based in Banchory. are needed to get deals done Similarly, trade in the estate he says. ‘Whatever our personal homes up to £1.25 million – projects in Scotland, working In practice, this means and development happening market remained buoyant views might be, we have to be the average value of Strutt & with landowners and developers entering into joint ventures on the ground. And, with new throughout 2012 and into 2013 alert to the potential of what an Parker’s transactions in the to help solve funding issues and for commercial activities, such Strategic Development Plans following a strong performance independent Scotland will mean city is £760,000. shape agreements on wind and as renewable energy, rather coming into force countrywide, in 2011. Despite challenges for our clients.’ However, the whole market hydro schemes that promise a than merely renting out the he urges landowners with including the stuttering economy, is under pressure due to tight land to developers. In the development proposals to the introduction of the Wildlife mortgaging requirements. agricultural sector, contract seek advice at the earliest stage. 10,000 and Natural Environment Act ‘Good properties will always AverAge BAre Arable farming has increasingly become ‘Councils are looking at their (WANE), review of land reform sell,’ says Blair, who believes 9,000 LAnd vALues Pasture the most attractive option for Local Development Plans with legislation and Common honesty and realism with clients 8,000 2000–2012 landowners looking for the an increasingly longer-term view,’ Agricultural Policy negotiations, is paramount. tax advantages of trading. he says. ‘It’s never too early to 7,000 the number of estates sold ‘Reputation is everything ‘We’re working with clients engage with me in the process.’ 6,000 actually increased – from 21 in Edinburgh and we’re proud RE to look at each enterprise c sales in 2011 to 23 in 2012. to have a very low fall-through 5,000 and identify where there are £/ A ‘Scotland remains unique as a rate (sales that fail to complete 4,000 opportunities to increase trading country of easy accessibility and after an offer is accepted). activities,’ says David. ‘It’s 3,000 small size that has an incredible The more we sell, the more looking at the whole business the inheritance tax variety of landscape, quality of we’re asked to pitch.’ 2,000 of a diversified estate and trying system has countless sport, richness of architecture and And his advice to clients? 1,000 to fit the constituent parts added pitfalls for depth of history,’ says Robert. ‘Don’t be mesmerised by the together to be profitable, estates failing to get ‘These attractions continue to highest proposed sale price.’ 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 but also to be tax efficient.’ their house in order

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pp06-07_&Scotland_Trends_desFIN.indd 6 12/03/2013 16:48 pp06-07_&Scotland_Trends_desFIN.indd 7 12/03/2013 17:00 AS ALexANDeR AND LAvINIA BuRNeTT TAKe THe ReINS of LeyS eSTATe, THey Hope To LeAve A LASTING LeGACy foR GeNeRATIoNS To CoMe

WORDS Lucy Ryan PHOTOGRAPHY Peter Sandground

et back above the banks of the River Dee in mixed woodland fast-paced communications, estate management has evolved. Big is a splendid white harled house with stunning valley views. decisions are made on a day-to-day basis, rather than over decades, To the right is , complete with fairytale turrets, and they are reached in consultation with the local community. ‘It’s S fantastical gargoyles and formal gardens. Now in the hands vital that we involve them as much as possible,’ says Alexander. ‘With of the National Trust for Scotland, it is the ancestral seat of the Burnett our three children at the local primary school, we’re an integral part of family, granted to them by King along with the this community and actively lead on consultation, working with a symbolic Horn of Leys to protect the forests and land. range of community and council groups. The estate is now so diverse, So far, so traditional. Take a closer look at this people don’t always appreciate how many activities historic tableau and you’ll see something more we are involved in.’ modern. Below the white house (home of Burnetts Driving around Banchory, the impact such senior), hidden among the trees, is the timber-framed activities have had on the area is clear. from the new eco-home of Alexander Burnett, his wife Lavinia and homes on the Hill of Banchory and the community their three children Thomas, Hester and Amaryllis. theatre to the new rugby club facilities, a wealth of They are the latest in a long line of Burnetts to be projects have been undertaken to enrich local life tasked with safeguarding the estate for future and draw people to the area. The Woodend Arts generations. In line with their environmental abode, Association with its café-bistro, and the regeneration planning a sustainable future is top of their agenda. of abandoned steadings and the sawmill at Milton of Crathes to create an art gallery, restaurant and craft A new generAtion shops, are cases in point. Both are popular attractions ‘Things have changed since I ran around with my for a wider circle of visitors; Milton Craft village father,’ says Alexander, who now oversees a diverse also benefits from the restoration of the historic estate comprising 21 business entities that cover all Royal Deeside Railway. As for the housing, it areas of land management, construction and responds to Banchory’s growing appeal as a lovely development, recreation and renewable energy. As a place to live with an easy commute to Aberdeen. commercial enterprise and a provider of employment for the local community of Banchory, the estate Community Assets requires careful stewardship to ensure growth yet The rugby club is a more personal project. Alexander, retain its natural and historic integrity. we’re An integrAl a former player, coaches at the club where his son ‘The momentum to diversify really grew 35 years pArt of the loCAl Thomas is an avid member. ‘The rugby club was ago when my father set up a construction company, Community. it’s about creating a green belt between Banchory and which is now the Bancon Group,’ says Alexander. vitAl thAt we the National Trust land around Crathes Castle, and ‘He had inherited a lot of land with redundant farm involve them about providing sports facilities for the community,’ buildings that were no longer suitable for modern says Alexander. ‘We knew from consultation that agricultural practice. With no money to invest, he this was wanted and needed. The land for the looked at alternative uses for those steadings and at allotments could have been used in a far more developing other enterprises that would complement productive way, but it has proved popular with the each other and use the skills of workers on the estate.’ local community. In two years, it has doubled in size Alexander grew up observing this entrepreneurial and is now the largest allotment area in Scotland.’ spirit, and like his father James, who is Chief of the environmental sustainability is another of House of Burnett, he hopes to steer the estate towards Alexander’s passions. ‘This is an area in which we a sustainable and self-sufficient future while hope to make a difference,’ he says. ‘Renewable preserving its traditions, heritage and natural beauty. energy is a new direction we’re taking. It’s important ‘My father and I have always been in common Left: the Burnetts with daughter to secure the future of the estate and the community.’ Hester. From top: the bistro at agreement on that point,’ says Alexander. Woodend Barn; Milton of Crathes The recent construction of a biomass energy centre a family affair With technological and scientific advances, and steadings; Woodend allotments to provide heating for local amenities and housing

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pp08-10_&Scotland_Case Study_energy_desFIN.indd 8 12/03/2013 16:57 pp08-10_&Scotland_Case Study_energy_desFIN.indd 9 11/03/2013 10:55 & SCOTLAND ENERGY EFFICIENCY

EnErgy on thE agEnda With tough new regulations and ambitious targets, Scotland faces a greener future, says renewable energy expert and Banchory-based associate Andrew Duncan

lthough global fuel costs improvements is also causing are on hand to explain the various continue their inexorable concern within the rental sector. 700k efficiency options available and to a rise, demand for energy ‘Incentives are coming forward pRopERtIEs IN help ensure the new requirements shows no signs of easing. But under the Energy Act 2011 and the thE uk wIll Fall are met. ‘We’re definitely ahead of bElow thE mINImum without a significant change in government’s Green Deal, a pay- EpC ‘E’ staNdaRd the curve and very aware of the is just one part of the wider campus of the Scottish Centre for interests to consider, it’s hard work. Keeping all areas of the estate attitudes towards energy usage, as-you-save loan scheme to fund FoR RENtal impact that this legislation will have Alternative Technology (ScotCAT) project to create a self-sufficient working in harmony is a challenge. From the sporting side, with three we’re unlikely to see any real impact improvements, went live in January,’ on our clients,’ confirms Andrew. community. ‘It’s exciting,’ says Alexander. ‘There’s a lot going on.’ shoots and salmon fishing on the River Dee, to the issues surrounding on the upward trend of fuel bills. explains Andrew. Although Scotland might have At times, a little too much, confirms Lavinia, who is thankful that access, forestry, agriculture and also farm and commercial tenants, it’s Clearly, the UK government thinks ‘There is also the Energy Company 100% a disproportionate number of they have a crack team of employees on the estate, among them a balancing act. Their needs and demands can often be in conflict.’ it’s time to get tough on the matter. Obligation (ECO), which requires oF sCotlaNd’s properties requiring energy-efficiency ElECtRICItY Is Thys Simpson, a full-time Countryside Ranger who Despite still referring to Banchory as ‘the village’, A number of measures are being major electricity companies to fund taRGEtEd to bE improvements, its lead in renewable overseas a wide range of projects, from tree felling David is aware of how the town has expanded. ‘The rolled out under the Energy Act energy-efficiency improvements. FRom sustaINablE energy generation looks unassailable. and footpath management to red moss management development isn’t simply for development’s sake,’ he 2011, in particular a framework to While part is only for low-income souRCEs bY 2020 Such is the level of confidence in

and water vole conservation. ‘You can’t be an expert hastens to point out. ‘It’s been done with great prevent landlords re-letting properties and vulnerable consumers, some of renewables north of the border in everything,’ admits Alexander. ‘Each area requires concern for the area’s heritage and environment.’ that have an EPC rating of less which has been ring-fenced for rural that the Scottish government has expert knowledge.’ The new homes on Hill of Banchory, for example, than E, something that would have areas, a substantial part of ECO is published new interim green energy This, too, is where Strutt & Parker comes into are surrounded by tree belts, with traditional stone a major financial implication for for the insulation of solid walls and targets, with the aim to have 50% of play. The Burnett family has sought the company’s dykes and even cast-iron street lamps bearing the landlords (EPC ratings range from hard-to-treat cavity walls. Many the nation’s electricity coming from advice on managing the estate for more than 26 Leys Estate horn symbol. ‘There’s an attention to A, for the most efficient properties, of the properties that we manage sustainable sources by 2015, and years. ‘When I was younger, I went to monthly estate detail which you may not at first appreciate. There’s down to a low of G). would fall into this category.’ 100% by 2020. meetings with my father and Robin Maitland at a lasting legacy there.’ The government estimates that According to Andrew, many Strutt & Parker recognised early Strutt & Parker,’ recalls Alexander. ‘Things move at a almost 700,000 properties in the UK landlords are already investing in on that renewables schemes, with their faster pace now and meetings take place every week.’ Looking ahead will fall below the new minimum. improvements before the deadlines, associated financial incentives, could

Today, David Smart, Partner in Land Management This sense of legacy and heritage is something of a Dave Flanagan ‘On Scottish estates, the vast recognising that there are long-term offer a vital lifeline to struggling estates at Strutt & Parker’s Banchory office, is Alexander’s family theme, stemming from a deep-rooted love of majority of rented properties benefits to having energy-efficient and their surrounding communities. right-hand man, advising on a wide range of matters the land and forests that have allowed the Burnetts currently fall into the F and G properties. ‘It often means big ‘The firm continues to play a key role words including land, river and sporting management, to prosper. ‘The children are already learning about category,’ says Andrew Duncan, upfront investment by landlords, in a large number of renewables diversification, and environmental and energy issues. the trees and wildlife, and are actively involved in Banchory-based Land Agent and but energy-efficient properties projects,’ confirms Andrew. ‘We’re From top: the biomass energy Having worked with Alexander on a raft of recent centre; Alexander and David; conservation projects, such as our work to promote renewable energy expert. ‘We are ultimately command much higher setting the benchmark for drafting projects, he knows the importance of diversification the new fishing hut on the River red squirrels,’ says Lavinia. ‘They know how monitoring this legislation closely rents,’ he says. ‘Prospective tenants agreements between landowners, in the face of a challenging economic environment Dee; railway restoration work important this side of the estate is and how we must to see how it will be interpreted are already asking about the energy local communities and developers.’ and increasingly complex legislation. ‘Today’s estate look after it for the future.’ by the Scottish government. To costs of properties available to let, has to be viewed as a commercial business,’ says On Alexander and Lavinia’s watch, Leys Estate is renovate all properties to the point accepting that a higher rent is David. ‘We think strategically, looking at ways to going from strength to strength. Building on the where they could get an E rating by balanced out by lower energy bills.’ make the estate work harder and generate income foundations layed by their forebears, their approach Dennis Carrier / Synergy 2018 is a big ask.’ Andrew also predicts that prospective tenants for future investment.’ to diversification, sustainability and management With the threat of fines up to £5,000 standards will only become tougher, are already asking David admires the dedication of the Burnett will help to steer them through uncertain times. And, for landlords failing to comply, there’s so forward thinking is advised. about the energy family. ‘They are hands-on in every area of the estate of course, they can always count on David and his no avoiding the new rules. The issue Reassuringly for Strutt & Parker costs of properties

and the community,’ he says. ‘With so many diverse team to offer the soundest advice. illustration of who is going to pick up the cost of clients, Andrew and his colleagues available to let

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pp08-10_&Scotland_Case Study_energy_desFIN.indd 10 11/03/2013 10:55 pp08-10_&Scotland_Case Study_energy_desFIN.indd 11 13/03/2013 09:42 A day in the life

In thriving cities and on hard-working country estates, no two days are alike for Strutt & Parker’s local experts

City Country Kirsten Stuart, Edinburgh offi ce Jennifer Durham, Inverness offi ce My fi rst mission of the day is a It’s an early start for my weekly viewing of a Georgian townhouse in Tuesday visit to Logie Estate near Danube Street in the Stockbridge area Forres, in the beautiful Findhorn Valley. of city. It’s absolutely beautiful and I’m It’s not easy after last night’s retirement confi dent that it will sell for a great party held in the big house for one of price. While in the New Town, I bump the estate’s long-serving gamekeepers. into a surveyor, who has just carried out After yesterday’s trustee meeting a Home Report on a recent instruction with the Laing family, we all feel a real – a semi-detached house in Wilton Road sense of purpose and are looking ahead in the south of the city. Our impromptu to a new season. My fi rst task is to pavement meeting gives us the chance to conduct a thorough risk assessment discuss the condition of the property. of the river paths in advance of a busy It’s then back to the offi ce and the salmon-fi shing season, looking out boardroom to meet a client to discuss for damage, fallen trees and restricted the offers received at his closing date. access. As I check the wooded river Afterwards, I jump in the car, dashing banks, I catch up with the forestry off to a rendezvous with a buying agent team, who are busy clearing trees in over coffee. We meet every month as light of recent Land Managers Options she is keen to know what properties funding for forest maintenance. are coming up that could be of interest It’s then time to call on one of the to one of her international clients. tenant farmers, who needs help with After a stint of admin, my thoughts the drainage in a turnip fi eld where his soon turn to tonight’s networking event sheep are currently grazing. The effects organised by Turcan Connell solicitors. of the wettest summer on record are Last month they held a legislation still being felt and we discuss the best seminar, but tonight it’s wine tasting. options. On my way back, I say hello Much as I love the law, it’s more to Mrs Laing’s famous longhorn cattle, appealing and, after a busy day, who always watch my comings and it’s just what the doctor ordered. goings with bovine nonchalance.

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pp12-13_&Scotland_DayInLife_desFIN2.indd 12 25/03/2013 09:48 pp12-13_&Scotland_DayInLife_desFIN2.indd 13 25/03/2013 09:49 DEBATE CONTACT US

Q & A

A Question of independence After the signing of the Edinburgh agreement last October, a referendum on Scottish independence takes place in 2014. Andrew Hamilton, Land Management Partner based in Inverness, answers the key questions Strutt & Parker services How likely is Scottish to the basic law of property. the European Union, there are Q Residential independence? Land reform is a different matter rules preventing the banning Farming A Opinion polls say there isn’t but it is currently being reviewed, 306 of other EU nationals buying YEARS OF POLITICAL Land Management a majority in favour of total well ahead of the referendum. or selling property. The SNP toyed UNION wITh Planning independence (around a third ENGLAND IN with the idea of prohibiting foreign of Scotland’s four million voters Q Could I be paying more tax? ThE BALANCE ownership, but this was dropped, Development think Scotland should end the A This depends on whose sums you as defining ‘foreigner’ proved tricky. Resources & Energy 306-year-old political union with believe! The Scottish parliament Did it include the English, or, for Valuations England), although this could shift. already has powers to raise tax that example, SNP-supporting expat I’m sure the Scottish National Party are as yet unused. If Scotland had 4m Scottish film stars in the Bahamas? would have preferred a third to raise its own revenue, there’s an SCOTTISh vOTERS Scottish Nationalists also realised wILL DECIDE Strutt & Parker referendum question offering argument that the economy’s not IN 2014 that investment from foreign ‘devo-max’ (fiscal freedom, but strong enough to cover government landowners contributes significantly offi ces in Scotland stay in the UK) or ‘indy lite’ (keep costs. Either public spending would to the economy. Banchory Edinburgh Inverness sterling, the Bank of England, the shrink or taxes rise – or probably 01330 824 888 0131 226 2500 01463 719171 Queen and cooperate on defence), both. Also, an annual property value Q Should one seek expert advice? Cheryl Markosky St Nicholas House 28 Melville Street The Courier Building both more popular choices to tax (similar to the proposed mansion A It must make sense to seek 68 Station Road Edinburgh 9-11 Bank Lane full independence. tax in England) could be introduced. professional advice from those who Banchory AB31 5YJ EH3 7HA Inverness IV1 1WA

are well-informed politically. We make Words WORDS Robin Maitland Andrew Rettie Andrew Hamilton Q What is the current impact Q Could independence open up a point of staying up to speed with Partner, Land Management Partner, Estate Agency Partner, Land Management of the ongoing debate? possibilities for landowners? the debate. Personally, I have given 01330 826810 0131 718 4590 01463 723598 A Uncertainty leading up to the A Opportunities for renewable evidence in parliament and met [email protected] [email protected] [email protected] referendum isn’t good for business or energy may increase, as the Scottish ministers on numerous occasions; David Smart Andrew Smith Nigel Fraser investment in Scotland. Whatever the government is more pro-renewables I have also taken up positions with Partner, Land Management Partner, Estate Agency Partner, Land Management result, the period afterwards will give than the Conservative element of the government agencies, including the Maps Illustrated 01330 826817 0131 718 4595 01463 723591 [email protected] [email protected] [email protected] direction, which is preferable to this coalition. Scotland has a real chance Deer Commission for Scotland and M a P MAP current period of limbo. of producing 100% of its power from think tanks such as the Scottish Ralph Peters Kevin Maley Blair Stewart renewable resources (wind, hydro, Rural Commission. Partner, Land Management Partner, City Estate Agency Partner, Estate Agency Q Could independence affect tidal and wave, although not quite 01330 826811 0131 718 4480 01463 723595 [email protected] [email protected] my rights as property owner? so much solar) and becoming a net [email protected] A Scotland’s always had a different exporter of power. That income is David Strang Steel Robert McCulloch Kingussie legal system to England and Wales, vital for Scotland’s future, and growth Partner, Estate Agency 01330 826812 Partner, Estates & Farms Agency 01540 662020 and the ability to draft new laws in this sector is likely to continue If SCotlAnd HAd Balavil House [email protected] 0131 718 4593 independently of Westminster since receiving public-sector support. to rAISe ItS oWn [email protected] Kingussie PH21 1LU

1999, so why would independence revenue, tHere’S An Dennis Carrier / Synergy Andrew Aitchison Allan Macpherson-Fletcher alter this? Property ownership was Q As a foreigner owning Argument tHAt tHe Published on behalf of Partner, Land Management Consultant, Estate Agency overhauled in 2000 with the abolition property in Scotland, will my eConomy ISn’t Strong Strutt & Parker by Sunday 0131 718 4596 01540 662020 of feudal tenure, and there have been rights change? enougH to Cover sundaypublishing.com [email protected] [email protected]

no further moves for a radical change A If Scotland remains in or rejoins government CoStS illustration ILLUSTRATION

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pp14-15_&Scotland_Independence_contacts_desFIN.indd 14 07/03/2013 14:16 pp14-15_&Scotland_Independence_contacts_desFIN.indd 15 22/03/2013 15:16 Property • Land • Projects • People 2013

spotlight on Residential diversification Farming energy efficiency Land Management Planning makes the grade Development market trends Resources & Energy and analysis Valuations struttandparker.com a question of independence

pp01-12_&Scotland_Cover_desFIN.indd All Pages 25/03/2013 09:52