From: James Dennis <mailto:[email protected]> Sent: Wednesday, June 27, 2018 10:45 AM To: Malcolm Burns <[email protected]> Subject: Taunton sale Dear Malcolm Please find attached for information the final brochure as issued. Total guide is £31.25 million. I look forward to seeing you shortly. Regards James James Dennis FRICS Director Rural York House, Blackbrook Business Park , Taunton, TA1 2PX Tel :+44 (0) 1823 446 987 Mobile :+44 (0) 7768 708 252 Email :[email protected] Website : www.savills.co.uk Attachments: x2 PDFs ‘The Taunton Estate’ and ‘The Taunton Estate A2 Plan’ From: Malcolm Burns <[email protected]> Sent: Tuesday, June 19, 2018 4:05 PM To: James Dennis <[email protected]> Subject: RE: Crown Estate update - Taunton Thanks v much James – that is all really helpful. Kind regards Malcolm Malcolm Burns Head of Rural 1 St James's Market, London, SW1Y 4AH Tel: +44 (0) 20 7851 5290 | Mob: +44 (0) 7850 652 426 www.thecrownestate.co.uk Please think - do you need to print this email? LEGAL DISCLAIMER - IMPORTANT NOTICE The information in this message, including any attachments, is intended solely for the use of the person to whom it is addressed. It may be confidential and subject to legal professional privilege and it should not be disclosed to or used by anyone else. If you receive this message in error please let the sender know straight away. We cannot accept liability resulting from email transmission. The Crown Estate's head office is at 1 St James's Market London SW1Y 4AH From: James Dennis [mailto:[email protected]] Sent: Tuesday, June 19, 2018 3:46 PM To: Field, Clare Cc: Burns, Malcolm; Back, Lucy; Louise Rose Subject: RE: Crown Estate update - Taunton Look good to me. Thanks James From: Field, Clare [mailto:[email protected]] Sent: 19 June 2018 15:39 To: James Dennis <[email protected]> Cc: Burns, Malcolm <[email protected]>; Lucy Back <[email protected]>; Louise Rose <[email protected]> Subject: RE: Crown Estate update - Taunton Thanks James, hugely helpful. Have receive the photos too – and will send the main shot across. If all are happy – I’ll send the below information • The South Estate is comprised of 9 equipped farms • Across the rest of the estate, we have completed 3 sales to tenants, and are progressing discussions with a number of others. Clare Field Media Relations Manager 1 St James's Market, London, SW1Y 4AH Tel: +44 (0) 20 7851 5076 | Mob: +44 (0) 7471 033 190 www.thecrownestate.co.uk Please think - do you need to print this email? LEGAL DISCLAIMER - IMPORTANT NOTICE The information in this message, including any attachments, is intended solely for the use of the person to whom it is addressed. It may be confidential and subject to legal professional privilege and it should not be disclosed to or used by anyone else. If you receive this message in error please let the sender know straight away. We cannot accept liability resulting from email transmission. The Crown Estate's head office is at 1 St James's Market London SW1Y 4AH From: James Dennis [mailto:[email protected]] Sent: Tuesday, June 19, 2018 3:20 PM To: Field, Clare Cc: Burns, Malcolm; Back, Lucy; Louise Rose Subject: RE: Crown Estate update - Taunton Hi Clare Comments as follows: • There are 9 equipped farms (ie land with farmsteads) within the sale • There are three farms that will remain subject to tenancy after the sale, the majority of the remaining land becomes vacant at the end of September save for two small bare land lettings. There are also some commercial and residential tenancies which will continue. • Negotiations with tenants relate predominantly to other farms on the wider estate which are excluded from this sale although we are in discussions with three tenants within the estate being sold. I would try to steer clear of this if possible however as I feel we should not be commenting on that in public (in relation to the estate being sold rather than the wider approach). • We are in discussions with tenants on 11 other farms on the estate being sold and the wider estate over sales to them of all or part of the farm or surrender as well as discussions with some tenants of bare land. 3 other sales to tenants have already completed. As you say you need to consider how much of this you pass on. Happy to chat this through. I will try to send a couple of high resolution photos separately however they are very large so we need to see if they get through your firewall (up to 20MB). I will send those in the next couple of minutes. Regards James From: Field, Clare [mailto:[email protected]] Sent: 19 June 2018 14:42 To: Lucy Back <[email protected]>; James Dennis <[email protected]>; Louise Rose <[email protected]>; Burns, Malcolm <[email protected]> Subject: RE: Crown Estate update - Taunton Hi all, A couple of questions by way of follow up from Farmers Weekly on Taunton. Would welcome a summary of the facts that relate to the questions below (we can then decide how much we share) Could you also send over one or two of the images shot for the marketing brochure? As soon as possible would be great – she’s going to publish in the morning. Many thanks in advance. Clare Clare Field Media Relations Manager 1 St James's Market, London, SW1Y 4AH Tel: +44 (0) 20 7851 5076 | Mob: +44 (0) 7471 033 190 www.thecrownestate.co.uk Please think - do you need to print this email? LEGAL DISCLAIMER - IMPORTANT NOTICE The information in this message, including any attachments, is intended solely for the use of the person to whom it is addressed. It may be confidential and subject to legal professional privilege and it should not be disclosed to or used by anyone else. If you receive this message in error please let the sender know straight away. We cannot accept liability resulting from email transmission. The Crown Estate's head office is at 1 St James's Market London SW1Y 4AH From: Malcolm Burns <[email protected]> Sent: Thursday, July 19, 2018 8:35 AM To: Lucy Back <[email protected]> Cc: Emma Folkes <[email protected]>; James Dennis <[email protected]>; Jones, Ken <[email protected]>; James Dennis <[email protected]> Subject: RE: Taunton Update Lucy Many thanks for the update. I agree that we should not accept any offers at this early stage in marketing. I look forward to hearing about further interest as we go on. Please note I will be away from the office next week, so will not be available for the mid-week catch up or for any other queries, but Ken will be available should anything arise. Kind regards Malcolm Malcolm Burns Head of Rural 1 St James's Market, London, SW1Y 4AH Tel: +44 (0) 20 7851 5290 | Mob: +44 (0) 7850 652 426 www.thecrownestate.co.uk Please think - do you need to print this email? LEGAL DISCLAIMER - IMPORTANT NOTICE The information in this message, including any attachments, is intended solely for the use of the person to whom it is addressed. It may be confidential and subject to legal professional privilege and it should not be disclosed to or used by anyone else. If you receive this message in error please let the sender know straight away. We cannot accept liability resulting from email transmission. The Crown Estate's head office is at 1 St James's Market London SW1Y 4AH From: Lucy Back [mailto:[email protected]] Sent: Wednesday, July 18, 2018 7:05 PM To: Burns, Malcolm Cc: Folkes, Emma; Dennis, James; Jones, Ken Subject: Taunton Update Dear Malcolm Just a quick update on how matters are progressing with sales at Taunton. Emma’s team has now received comments back from Clarke Willmott on the overarching document for Quantock Farm so this has stopped the “blockage” this was causing with other deals and matters are progressing fairly well on all deals with tenants. We are still pushing for responses from purchasers at Philpotts, Taunton Racecourse and Hestercombe but the tenant/their agent is being prompted directly in these cases. Hestercombe boundary issues still to be resolved and although this currently rests with both third parties, we are actively pressing a response to resolve this. For Orchard Portman surrender, Burges Salmon has asked the tenant to respond to a full list of enquiries but has sent the Agreement for Surrender out for signature in the meantime so hopefully all of this can be completed swiftly. In terms of Taunton south sale, access to the data room is now open and Emma has sent out the invitations to all those who have requested it. Hard copies of the particulars are now available so we will send you some copies. Since the launch on 21 June details have been sent to 320 applicants with 15 viewings carried out and 3 offers now received as follows: Redactions for personal information and commercial data Lot 1E: Offered £ (Old Estate Yard) (s40(2), s43(2)) (at guide price) Cash buyers. OBO his client Lots 9a and 9b and parts of 9c and lot 8: £3.25m (Bickenhall & Park Farm) Lot 7: Offered £ (Hewetts Farm) At this stage we would not recommend accepting any of them. There is due to be a viewing at the Old Estate Yard (Lot 1e) next week with several interested parties and for the rest, although we would not rule out selling Hewetts Farm separately, partly due to concern over interest in AHAs and partly because it sits slightly separately to the south of the estate, we would not advise picking off parts at this stage of the marketing in case parties are more interested in the whole.