Anyone owning landed estates and heritage property should consider an entrepreneurial approach to generating the right levels of income from the estate.
For those in the countryside, the current climate presents opportunities to capitalise on a seemingly growing rural society, following the change in working patterns. Such opportunities include providing business facilities, housing, local shop produce, as well as the possibility of hosting external events that previously may have been less feasible.
For urban estates looking to find ways to diversify their retail properties following a challenging period, you may be interested in our “retail repurposing” toolkit, or more traditional models, such as place making, which has proved popular if you are interested in philanthropic causes.
These projects require substantial funding and we are able to support you with the right connections.
Below are some of your options:
Recent market data suggests that the value of forestry traded each year is worth around only £150 million. It is a small investment arena, but one that is set to grow as investors become increasingly aware of its qualities.
Forestry appears to be a particularly attractive option for international buyers. While a forestry purchase may appear “straightforward” in comparison to other property transactions, there are very specific due diligence requirements that may not be immediately apparent to a buyer. These include licensing concerns, employment issues and specific environmental concerns to name a few. We have experience and expertise in acting for buyers and sellers of forestry land in England and Wales.
Investment in commercial forests can also secure tax advantages for a UK tax paying investor. Forest(s) operated on a commercial basis (with a view to the realisation of profit) can benefit from wide-ranging reliefs, including 100% inheritance tax relief after 2 years (attaching to the land and timber). The qualifying rules (and steps needed to demonstrate a proper business) require careful thought, with several pitfalls for the unwary, but we have the necessary expertise to help support a tax efficient investment.
With the change in working patterns leading to a likely increase in numbers of people working from home for the foreseeable future and perhaps some looking to live in the countryside as a result, there is real opportunity for redevelopment of disused buildings, housing stock and business spaces, to encourage local businesses and regenerate rural communities.
This can create a requirement for reliable services, such as internet and mobile phone coverage, and an increased demand for heating and electricity with the challenge of limiting the impact on climate change.
Tourism, leisure and event staging
We have seen an increase in landed estates and heritage properties using their assets, locations and settings to host iconic events.
Our experienced lawyers are able to help with all aspects of hosting events including agreements with event organisers and contractors, planning, dealing with temporary and permanent staff, right through to data protection and insurance and cancellation policies.
Please listen to our podcast series here if you are interested in hosting outside events.
In commercialising estate assets, the owners are operating a branded business, and should take steps to ensure that they create, protect and nurture the brand, just as any other commercial brand owner would do. This includes ensuring consistency of branding, and protection of all the intellectual property rights relating to the estate businesses. A key element of this brand protection is obtaining registered trade mark protection for the names and logos used in the estate businesses. Our specialist brand protection team is able to assist with all aspects of intellectual property protection.
With the recent health crisis and Brexit, there is a perceived growing trend to “buy local”. This not only presents opportunities for those in the hospitality and tourism industry, but also extends to luxury goods products, including wine.
Buying, or renting, land to establish a vineyard requires nuanced legal advice derived from an understanding of viticulture. There are a number of boutique funding options for those interested in buying vineyards and specialist agents that we are able to connect you with.
For the products themselves, we understand the importance of having the right branding and how the wholesale market works.
Through our Paris office, we have Frédéric Jeannin who has advised families who bought or sold vineyards, large French spirits corporate in the tax structuration of acquisition of companies owning vineyards and champagne producers in various disputes.
Strategic Planning for Modern Landed Estates
The second in our series of articles on succession planning for landed estates covering a wide variety of matters.
Succession Planning for Landed Estates
The first in our series of articles on succession planning for landed estates covering a wide variety of matters.
In conversation with Lady Ashcombe of Sudeley Castle
Watch Henry Fea and Lady Ashcombe in our two part video series.
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If stewardship is an old idea, why are we talking about it now?
Diversification of landed estates – a trade mark lawyer’s advice...
Mary looks at the diversification of landed estates and offers her expert advice from a trade mark perspective
Landed Estates and Historic Properties: Business Interruption
Tim Maxwell and Manoj Veghela discuss the implications of business interruption.
Naomi Nettleton and Tristram van Lawick quoted by Citywealth on the ways in which landowners are embracing change to sustain and diversify their operations
Landed Estates and Historic Properties: Staging outdoor events – part 3
The third part in our staging outdoor events series, discussing data protection and insurance considerations for Landed Estates
Landed Estates and Historic Properties: Staging outdoor events - part 2
The second part of our series on the various elements to consider when staging outdoor events
Landed Estates and Historic Properties: Staging outdoor events
Naomi Nettleton discusses the issues with Simon Foster, Director in Tourism, Leisure & Events at Savills.
Tristram van Lawick
Landed Estates: The Whole Estate Plan
How the current market demonstrates the need for a clear whole estate plan rather than approaching each matter in isolation.
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Non-UK domiciliaries: Inheritance tax issues and opportunities
An introduction to inheritance tax issues that need to be considered where a “non-dom” is planning on becoming resident in the UK.
Charles Russell Speechlys recognised in the latest edition of The Spears 500
The annual report is based on peer nominations of the UK's leading private client lawyers.
29 lawyers ranked in Chambers High Net Worth Guide 2017
We performed extremely well and received some fantastic feedback from clients and contacts.
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New Money Laundering Regulations contain considerable new obligations on trustees and transparency measures to look out for
Succession in UK Family Businesses
If you are a family business owner, now is the time to tackle those difficult questions on succession for the long term benefit.
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The Timing of Financial Orders
Lexis PSL discuss the judgment in K v K (Financial Remedy Final Order prior to Decree Nisi) with Grant Howell.