The Client approached us in relation to a holding that formed part of their Estate. The holding, Moor Farm, required major investment in order to add to the diversity of its business enterprises
We advised that the farm be advertised on the open market as a long-term letting, open to a wide variety of uses.
There were a number of offers all innovative ideas with the preference for long-term letting.
The successful candidate had the concept of a dog hotel, The Pawfect Retreat”, the Client was impressed with the tender and offered a 20-year lease with the right to extend for a further 20 years if the tenant proves to be successful.
A long-term lease will provide security over the property for the Client, with reliability of having a definite income from the tenancy, potentially for the next 40 years.
The tenant has invested £1 million in improving the site including the removal of asbestos. This will have added significant value to the site and increased the income potential
This specific diversification will provide local employment in the area which will improve the reputation of the Estate
The overall diversification has ensured the Client an alternative source of income, therefore reducing the business risk