When it comes to reviewing the performance of assets, it can be very difficult to take a step back from the day-to-day management and look at the bigger picture. Rural landowners have faced and will continue to face, regulative, legislative, and political change that has a direct impact on their enterprises and therefore income. We caught up with one of our senior surveyors, Ellie Savage, to find out her views on why, in such uncertain times, it is important for rural businesses to see reviewing their current assets as an opportunity to establish if the current land uses are providing optimum output.
“At Fisher German, we have found the land zoning process vital in identifying new opportunities for development (both residential and commercial), mineral extraction, sustainable energy, and biodiversity net gain (BNG). This mapping exercise is where a landowner’s portfolio is split into different land use classifications and then reviewed as to whether the current land use is the most suitable. This process is very simple and straightforward and can reveal optimal alternative land use options, which is highly important when considering a longer-term strategy.
“Having the ability to visualise the segmented land zoning layers on a plan of the owned portfolio provides simple clarity. In addition to this, land zoning highlights areas that could be reconfigured to unlock new opportunities. Individual assessment of land use, and whether the current location is the most suitable, is important when looking to release areas of land for more advantageous operations.
“It’s essential, when reviewing potential alternative land uses, to consider the impact on current rural business activities both logistically and financially. In addition to this, any change in the enterprise will need to consider environmental social governance impact (ESG). Businesses must be mindful of how any adaptation or change in their current activities will impact their ESG credentials, for example, carbon footprint and contribution to net zero. It is important that thought needs to be given to environmental impacts, adding value to the community, and adhering to any relevant legislation.
“Other considerations that will require expert advice prior to any change in land use would include planning permissions and tax implications so it is important that the respective experts should be consulted early in the process. Our teams can provide an asset review service to highlight areas of opportunity to support estate or farm business strategy and ensure future resilience.”
