Land & Property Experts Property Review Spring 2020 1 Land & Property Experts BTF Services As a proactive multi-disciplinary company, BTF Property and Estate Management Partnership offers a wide range of professional We provide a full property and estate services to meet the needs of both rural and management service tailored to suit our commercial property owners and occupiers. individual clients’ needs for a range of rural By using our experience and technical and commercial properties, from single units knowledge we aim to provide cost effective to multi-let buildings and estates. solutions to our clients on all matters that they We aim to protect and enhance our clients’ face whether it be in a politically turbulent interests by improving investment performance climate, taking into account market trends, or reducing occupational costs for occupiers. adding value to businesses or simply providing good solid professional advice. Valuation Expertise We provide property valuation advice for a Rural and Commercial lettings and sales wide number of clients and lenders. Valuations We annually value properties worth in excess Planning and Development of £250 million. Property and Estate Management Investment and Development Grants and Subsidies We advise on the appraisal purchase, sale, Landlord and Tenant management and enhancement of Compulsory Purchase and Compensation commercial and residential investment development opportunities. Property Investment Advice We advise on promotion and option agreements. Agricultural Finance Arbitration and Expert Witness Auctions We organise dedicated auctions for the sale Sales, Lettings and Acquisitions of estates, farms and other rural property. Specialist advice on the appraisal, valuation, First class farm dispersal sales service. acquisition and sale of land and rural, agricultural and commercial property in the The BTF 50 Club South East. The BTF 50 Club advises on all aspects of Our tailor-made service ensures that agricultural and horticultural employment property for sale is handled in a professional law and HR related issues. We are a and efficient way. specialist consultancy service providing up to Extensive local knowledge and expertise in date advice and lobbying to our farmer and the lettings of farms and land. grower members throughout the UK. 2 Turbulent 20’s or a time for opportunity? A new decade has begun and there is no doubt the NFU have said this ‘mustn’t compromise that the landscape for landowners and farmers our food supply’. will be different over the next 10 years and beyond. There are a number of significant Food production and land management have changes to UK Government policy to be aware of worked hand in hand for generations and we now that Britain has left the European Union and will all be keen to see how this new legislation is in a transition period to the end of December works in practice, especially with the need to 2020. We look at how this will impact on your feed a growing UK population estimated to rise land holdings and or farming operations: by 5% over this decade. Going Green The Government is committed to tackling climate change and being the first major The rural community and environmentalists will economy to achieve net zero emissions by 2050, be working much more closely in the future. so we will wait to see how the Environment Bill The Government published its Environmental fits in practice with the new Agriculture Bill, Bill at the end of January 2020, which aims to also introduced to Parliament in January 2020. shape environmental policy for a generation and whilst broadly welcomed, organisations such as 3 Land & Property Experts Agriculture Bill This bill will provide the framework to replace Ministers must set out multi-annual plans for existing agricultural support schemes and it will using financial assistance powers and plans provide new powers and a new approach to starting in 2021 will run for seven years, with farm payments and land management. plans of at least five years duration after that. Key changes include: “The UK population is estimated to Powers for Government Ministers to develop rise by 5% over this decade” new farm support systems in England. Direct Ministers must report on food security at least payments are currently based on how much once every five years. land is farmed and these will be phased out over several years starting from 2021. New There are a number of measures on matters schemes to pay farmers for producing ‘public relating to farming and the countryside, goods’ such as environmental or animal welfare agricultural tenancies, fertiliser regulation, improvements will be introduced. New in the identification and traceability of animals and the 2020 bill is financial support for other items ‘Red Meat Levy’ are also included. such as soil protection and improvement. “Direct payments are currently based Ministers will continue to have powers to on how much land is farmed and intervene in agricultural markets in exceptional conditions including providing farmers with these will be phased out over several financial support, operating public intervention years starting from 2021” and private storage aid schemes. There are differences within the UK as to how There will continue to be measures to increase the bill applies. Powers for a schedule for transparency and fairness in the supply chain Northern Ireland to enable the preparation of for farmers and food producers which will be replacement schemes are included. Some of achieved through new requirements on the the provisions in the bill will apply to Wales, but collection and sharing of data. The new bill goes these are intended to be temporary. Welsh further with fair dealing measures, so that any ministers intend to introduce a Wales business purchaser must comply and a wider Agriculture Bill and the Scottish Government range of people selling products can benefit has already introduced legislation which from the provisions. proposes to keep most farm support approaches the same until November 2024. Measures on marketing standards and carcass classification. New clauses in the bill are With changing legislation dominating the included on the certification of organic products landscape over the next few years, what is likely both import and export sales as well as to be happening in the land market here in the domestic sales. South East? The bill sets out provisions to enable the UK to As we reported at the end of 2019 the first six meet obligations under The World Trade months to June 2019 saw the lowest acreage of Organisation Agreement on agriculture which publicly marketed land in the UK since 1995, limits how support considered ‘trade-distorting’ (excluding 2001 and the Foot and Mouth crisis) can be provided by any country. with 74,000 acres. Our local picture confirmed this however we have a diverse pipeline of land There is a requirement for Ministers to consider and property coming onto the market this spring. the need to encourage the production of food in Farmland prices in the South east are unlikely to England in an environmentally sustainable way. dip in the short term however it is expected that 4 with Brexit now confirmed, there are likely to be Here at BTF we are working with a number of some farmers and landowners who look again at landowners affected by this scheme on both their business structures, especially given future sides of the crossing and the broader changes to farm payments. development in this area especially around Ebbsfleet will over time impact on land supply Greater global trade insecurity may encourage and prices in the area. some investors into agricultural land, especially given its finite supply here in the South East and Land in the South East in the future is likely to some of the Government’s plans. be needed for tree planting. The Woodland Trust has released a plan for increasing tree During the 2019 General Election campaign the cover across the UK to help address the climate Conservatives made a pledge to build at least emergency. one million new homes over the next five years, which could help maintain land prices here in “The Government is committed to the South East as new sites are pushed tackling climate change and being the forwards. The planning system here in the South East will inevitably struggle to process a first major economy to achieve net large increase in volume quickly. zero emissions by 2050” “Conservatives made a general With these and many other pressures on land supply here in the South East, it is difficult to election pledge to build at least forecast any major changes in prices certainly one million new homes over the in the short term. Those farmers with rollover next five years” funds are likely to continue to want to reinvest, along with investors who will want to capitalise Major infrastructure projects don’t come much on the stability, long term growth and the ability larger than the Lower Thames Crossing which to protect funds from Inheritance Tax offered by is due to open in 2028. As of January 2020, the farmland and hobby and lifestyle buyers, who scheme entered a consultation phase and it is will continue to want to own land around likely to be the largest new road scheme in the residential property interests. UK for a number of years. 5 Land & Property Experts A selection of land and properties for sale or coming soon COMING SOON Stansted, Kent An agricultural and residential estate in 5 separate lots (100 acres). COMING SOON Cowbeech, East Sussex Converted Sussex Barn (2.46 acres). COMING SOON Cowden, Kent A development site with full planning permission for 9 residential units and a Farmhouse redevelopment (4 acres). 6 FORSALE FORSALE Hawkhurst, Kent High Halden, Kent A barn with full planning permission for conversion Converted residential oast house (0.48 acres).