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ESTATE MANAGEMENT stags.co.uk 1
Barnstaple
Meet the contributors:
ALEX REW Bideford
Partner and Head of
Professional Services South M
01884 235701
MILES WEBBER
Okehampton
Associate Partner
01803 862002 Launceston
Tavistock T
ALISTER SMITH
Head of Planning
Wadebridge
01392 439046 Totne
Truro Plymouth
Dartmo
TIM YONGE Kingsbridg
Senior Chartered
Surveyor
01803 862002
RICHARD MORRIS
Associate Partner
01803 862002
CLARE CAMPBELL
Surveyor
01803 862002
JENNY STEWART Contact us:
Surveyor
01803 862002 @
01803 862002 rural@stags.co.uk @stagsproperty @stagsproperty @stagsproperty
2 stags.co.uk
Welcome
ello and welcome to our latest
H Estate Management brochure.
Here, we look at ways in which
estate owners can add value and create
businesses for the future generations.
On page 4-5 Miles Webber looks back over 2020, the
challenges faced in the rural industry and forward to
the future. On page 6, Alistair Smith shares his expert
knowledge on the importance of forward planning. Richard
Morris and Clare Campbell discuss the challenges of being
a residential landlord (page 7). Jenny Stewart reflects
on the most significant changes to farming and land
management in 50 years (pages 8 and 9).
e
Dulverton Taunton Stags’ Estate Management department
Michelmore Hughes Stags has a wealth
of experience that can help you
Yeovil manage your assets to make the
Molton most of them. Our team
Wellington have the skills
Tiverton Our specialist team of Chartered and market
Surveyors look after a wide
Bridport ranging portfolio of property awareness
Exeter Honiton throughout the South West to handle
spanning many thousands of
acres. They have the skills and complex
market awareness to handle situations
complex situations and sensitive
Torquay relationships, adding value whilst
doing so.
es
Examples of their work include strategic reviews of
outh client’s assets to help with succession planning as
well as improvement of revenue streams through lease
ge renewals, rent reviews, property marketing and effective
London in-hand business management. We have also had
success in securing significant capital grants for heritage
property repairs, property conversions and infrastructure
improvements.
We can tailor our services to fit your needs, ranging from
full management with rent collection to acting on an
advisory basis. We can also provide an excellent in-house
client accounts function if required, allowing us to provide
a one-stop-shop for property management. Whatever your
plans, please do contact us to discuss your own particular
ALEX REW FRICS, FAAV
Stags Managing Partner and Head of Professional Services
stags.co.uk 3
Rural market
update
Miles Webber looks back over 2020, the challeges faced in the
rural industry and forward to the future.
o use the cliché ‘we have been liv- the most noticeable trend we are we have found the most successful
T ing through unprecedented times’
and I am sure at the start of 2020
none of us would have envisaged Brexit
experiencing is a slowdown in supply.
George Alder, Head of Stags
Farm Agency, comments,
outcomes have generally been achieved
where we have been able
to make allowances for
being eclipsed by a global pandemic. ‘Although Stags continues some medium to long-term
to market the largest share Residential uncertainty.
Such uncertainty and upheaval has of land for sale of any agent property has
touched most businesses and markets operating in the South West, grown to become Residential property
and I am sure it will continue to do so supply has been consistently the backbone has grown to become
to some extent over the coming years. down over recent years and of many rural the backbone of many
That is not to say opportunities do not a wide spread in market estates over rural estates over recent
exist, however at such a time thorough values throughout the region recent decades decades. However, few
market knowledge is perhaps more appears to have become may have predicted the
valuable than ever. I therefore thought established’. Furthermore, despite residential market would have been
I might share a brief snapshot of the the medium to long-term uncertainty quite so resilient in the face of a global
markets rural estates typically find generated by Brexit and changing pandemic. Simon Cooper, Stags Senior
themselves operating in. agricultural policy, agricultural rents Partner, comments ‘the South West
have remained buoyant and have been market has experienced strong growth
First and foremost the stalwart of boosted by resilient farm commodity to freehold residential prices during
agriculture. Freehold prices have prices. 2020. Whilst there seems no let-up
generally stabilised in recent years in the immediate future this strong
following more than a decade of quite As a team, we have successfully and enthusiastic market may need to
rapid growth. One might hypothesis the marketed, renewed and reviewed be tempered with what is potentially
market is now being driven by Brexit agreements for many thousands of over the horizon.’ Indeed, one may
uncertainty or the mid-2010 check to acres of let agricultural land over the be foolish not to acknowledge the
agricultural commodity prices, however last twelve months. When doing so assistance the market has been given
4 stags.co.uk
by pent up demand, those looking completed several successful lettings successfully obtain Coronavirus related
to relocate and government support. during 2020, including some larger funding to cover the cost of sizable
Residential rents have also dramatically established businesses outstanding repairs to
increased. However, one must factor in looking for more cost heritage property. We
the increased compliance requirements effective regional property. have found exploring
when managing a residential portfolio, We have also been able to Many rural such opportunities can
as touched on in more detail by my assist numerous landlords estates may also yield substantial amounts
colleagues Richard Morris and Clare and tenants find creative have untapped of otherwise overlooked
Campbell. solutions to problems they development revenue which can lessen,
have faced.’ potential and it or overcome, impacts
The commercial property market has may be worth elsewhere in an Estate
a track record of delivering premium Many rural estates may also revisiting business.
yields, but with increased reward have untapped development
typically comes increased risk. This potential and it may be worth revisiting I hope you have found the above an
old adage has perhaps become more such opportunities following recent interesting whistle-stop tour and that
prevalent over recent months, with the changes in planning policy, as touched you will find my colleagues’ articles of
retail and hospitality sectors particularly on in more detail by my colleague interest also.
effected. Alister Smith. We are aware of
numerous developers actively seeking
That is not to say all has been lost, opportunities and have progressed and
however effective commercial property agreed numerous development sales, Meet the author:
management has in some instances options and promotion agreements over
required careful input as well as informed recent months. Miles Webber MRICS
FAAV TEP Affiliate
knowledge of support mechanisms,
regulation and a live insight into how the Finally, in times of uncertainty it is Head of
market is reacting. sometimes worth looking for missed or Estate Management
new opportunities. By way of example
01803 849951
Matthew Higgs, Head of Stags during the course of the Coronavirus m.webber@stags.co.uk
Commercial Property, comments pandemic we have helped clients
‘despite market uncertainty we have reinvigorate forestry operations and
stags.co.uk 5
Forward planning
at a time of
great change...
Alister Smith, Head of Planning Services
at Stags, shares his expert knowledge.
early all estate calculated to boost growth.
N and land owners
will have had
some experience of
In a post pandemic world, the changes
are also likely to be developed further
reasonable period of time to hone their
proposals and with many looking to
the Town and Country and as well as housing there will be secure an interest in land before any
Planning system and for just as great a focus on economic changes are made so they can be ‘first
many it may well not have been a good development. As with any time of through the door’. Therefore, interest
one. Reforms to the planning system significant change there are likely to be should always be sought early in the
have been on the agenda for some time opportunities but also challenges. development journey, not as a later
with the start of the most recent chapter On a practical level what can estate afterthought.
of changes having commenced in 2012. owners do to keep abreast of these
Unfortunately, this first chapter of what changes and make the most of them Whilst it is easy to focus only on the
could be a long journey has not yet been when their full impacts become clear? strategic picture there have also been
concluded. The simple answer in most cases is some interesting smaller more direct
think ahead just as you might for tax changes. These include:
However, the pace of change has planning or other purposes. With the
gathered in recent years current average ‘Local Plan’ • The introduction of upwards
and at the time of writing we often taking 5 years or more to extension permitted development
may well sit on the edge form and even fairly modest rights for houses and flats
of the most fundamental think ahead just housing developments • The introduction of a permitted
changes that will have as you might for often taking two or more development right to allow the
been made in 30 years, tax planning or years to secure consent for demolition of standalone office and
with a whole new book other purposes. it is essential to think as far light industrial premises and the
being written as to how ahead as possible and take construction of a new dwelling
the planning system may advice. Whilst the changes • Changes to the use class order
operate. Whilst the full scope of these proposed will hopefully see these to enable more flexibile transition
changes remains to be seen, much of timescales become shorter, given that between business uses
the focus is on housing growth with the considerations such as heritage, ecology • A temporary (at present) change
drive to deliver 300,000 new homes and highways etc will not be forgotten to enable land to be used for
per year against current delivery of it is hard to imagine years will become alternative purposes for 56 days
approximately 160,000. mere months. not 28
To achieve this housing growth, and In particular with regard to larger housing If any of the above and possible
economic objectives proposed, changes applications, these can require entering forthcoming further changes are of
include a move towards an, at least in into an agreement with a development interest it is well worth checking with
part, zone based development system. partner, which can take some time your Agent about how these may benefit
This would be a significant step away to negotiate. That partner may then your property.
from the current site by site approach. have to spend some time preparing
the ground before an application can Alister Smith MRICS
Further proposed changes include much even be made. Whilst the proposed Head of Planning Services
tighter timescales for plan formation changes may also reduce some of these 01392 439046
and revisions to how housing figures are delays, developers will always want a a.smith@stags.co.uk
6 stags.co.uk
Is this a good time to be a landlord?
Richard Morris, Associate and Clare Campbell, Surveyor at Michelmore Hughes Stags,
explain the challenges of being a residential landlord.
n the current climate, being a landlord 2.Gas safety contamination of water courses. An
I of residential property is more of a
challenge. The requirement for an annual gas safety
check is generally well understood.
audit and regular servicing of the septic
tanks should be instigated.
Over the last few years, there has been Where there is more of a grey area is 7.Chimney sweeping
a steady increasing burden of regulatory when a tenant may have installed their
demand on residential landlords. It own gas appliances. It is sensible to Chimney sweeping is a grey area.
seems Covid has put on the back include these within the annual test. Most agreements require tenants to
burner the consultation about amending/ sweep chimneys, the more recent
extending notices for “no fault” evictions. 3.Electrical Systems agreements will require occupiers to
This has been brought into sharp focus provide certificates on demand. Its good
by the current Covid minimum timescale The rules are changing with let practice to obtain the certificates from
of 6 months for “no fault” notices. properties being required to have an occupiers and some landlords are taking
electrical test within the last 5 years from over the annual sweeping of chimneys
The rental market remains very strong April 2021. and reflecting these costs in the rents.
in the South West, which may reflect an
element of Covid flight. What is essential 4.Private water supplies Therefore, in conclusion yes it is still a
is that residential landlords understand good time to be a landlord. There is a
and set up processes to manage all Again, most landlords are aware of the requirement for more checks, record
the new requirements. It is all too easy requirement for annual servicing of water keeping and dialog with tenants. This
for some of these to be overlooked filtration systems but less well known should be seen as positive. Good
especially with long standing tenants. is the requirement to have atleast a communication not only keeps tenants
5-yearly risk assessment on communal safe it also increases the likelihood that
Some of the more recent changes are: water systems. they will stay and take better care of
your property.
1.Smoke & carbon monoxide detectors 5.Energy Performance Certificates
There is a requirement for smoke It is now a requirement that all let
detectors on every floor of a building properties have an Energy Performance Richard Morris
and carbon monoxide detectors in Certificate of E or better. There are 01803 862002
rooms with a solid fuel-burning device various exemptions if the improvement r.morris@stags.co.uk
(such as a wood burner or an open fire). works required would adversely affect
Battery powered detectors are relatively the property or are too expensive to
cheap and reliable now with up to 10 implement in full.
years battery life. However, thought
should be given, when electrics are 6.Septic tanks Clare Campbell
updated, to hard wiring these alarms. 01803 862002
It is important that these alarms are Under the General Binding Regulation, c.campbell@stags.co.uk
checked at the start of the tenancy and septic tanks can no longer be
then at least annually thereafter. allowed to discharge into defective
drainage schemes, which would allow
stags.co.uk 7
Post Brexit Farming
Jenny Stewart reflects on the most significant changes
to farming and land management in 50 years.
ural Britain is existing policies including access to land.
R facing perhaps
the most
significant changes
Direct Payments will be reduced with the
largest reductions made to the higher
payment bands in the first 4 years,
to farming and land further reductions will be implemented
management in 50 until payments cease in 2027. A Farming
years, with the UK having left the Resilience Program will be available over
European Union and with that, the the first three years of the agricultural
Common Agricultural Policy. transition, to help those most affected
and lump sums are also due to be
The UK government has set out a offered to those wishing to retire.
seven year transition period in which the
Basic Payment Scheme will be phased During the transition, the Basic Payment
out and new policies introduced and Scheme will be simplified so that
‘tested’ with farmers, land managers farmers may focus on transitioning
and experts, to ensure a practical new to the new system. This includes the
system that focuses on Sustainable removal of greening requirements and The Environmental Land Management
Farming. changes to cross compliance including Scheme has been discussed for some
the increased use of warning letters as time, the approach will comprise of three
The Government has produced the opposed to penalties for breach of rules. main components:
document, ‘Path to Sustainable
Farming’, in which the early framework Additional funding will be made • Sustainable Farming Incentives,
for the new schemes has been set out. available through an ‘improved husbandry-based payments
According to this document, the new Countryside Stewardship Scheme’ in support of the environment
policies are intended to align British (CSS) in preparation for the roll out of including soil improvement,
agriculture with the UK’s ‘Net Zero’ the Environmental Land Management hedgerow management and
2050 climate targets, whilst striving to Scheme (ELMS), which is expected in integrated pest management.
achieve farm profitability and coupling late 2024. This will ensure continuity • Local Nature Recovery, focuses on
precision farming with longstanding between CSS schemes already creating, restoring and managing
agronomic techniques to ‘deliver for delivering environmental benefits that will species and habitats
nature’. most likely be encompassed in the new • Landscape Recovery, large scale
ELMS schemes. joined up restoration, creation and
Subsidies are to move from area based management projects including,
payments to focusing on environmental The Government have reiterated their coastal, peatland, woodland,
preservation and enhancement. The commitment to maintaining the current wetlands and saltmarsh areas.
government plans to design the annual agricultural budget as set out
subsidies in a manner that will benefit in their manifesto. Money from direct Additional grant support will also be
existing farmers, future farmers, young subsidies will be diverted into ELMS as provided to help farmers maintain
and old as well as those who want to well as additional schemes as set out in and improve productivity, invest in
farm but cannot due limitations under Section 1 of the Agriculture Act 2020. research, development and sustainability
8 stags.co.uk
through the transition, including capital
investment.
The government’s ‘evolution rather
than a revolution’ approach could be
promising and will hopefully leave room
to allow for the Brexit wider transition.
In summary there appear to be
opportunities ahead but much of the
detail remains to be confirmed and
will require careful monitoring over the
coming months and years. Not least as
estates can quite often be well placed
to deliver environmental schemes on a
landscape and also as such changing
policy typically needs to be taken into
account when managing or putting in
place tenancies and agreements.
Jenny Stewart
01803 862002
j.stewart@stags.co.uk
stags.co.uk 9
Our dedicated departments
are here to help you
As well as our expertise in land management, Stags also has a wide range of
property services for you to call upon to strengthen and add value to your estate.
Planning & Design Services
Our planning consultants provide expert
advice which can maximise the value Residential Sales
of your land and property. Contact us if There are times when the sale of an estates off-lying assets or properties with
you are considering new development, costly upkeep can enable proceeds to be reinvested elsewhere. With our extensive
wanting to increase rental income by network of 21 West Country estate agent offices, Stags is well placed to sell your
optimum land use or need strategic property successfully. Our website stags.co.uk receives more than 200,000 visits
planning advice for future generations. every month and we have a vibrant social media presence plus a strong contact list
We offer a range of planning services of potential buyers keen to move. We advertise extensively through online portals
which, combined with our deep such as Rightmove as well as in print regionally and nationally. Our estate agents
knowledge of the property market and can offer expert advice on the property market and on preparing a property for sale.
the development process, enables us to
provide clients with a complete planning Residential Lettings
service. Stags lets and manages more than
3,000 rental properties across the South
Our experience ranges from large scale West. We pride ourselves on the service
housing developments to proposals for and support we provide to landlords and
new agricultural buildings. Alongside our can offer advice on all aspects of being
design team who have vast experience a landlord, including how to prepare a
in working on projects of varying scales property for rental.
across the South West from housing
developments, new homes, barn We can find you the perfect tenants and,
conversions and extensions to new farm should you wish, we can also manage
buildings and change of use projects. the property completely in terms of
Our dedicated team can advise on all repairs, upkeep and communications
planning and design matters. with tenants.
10 stags.co.ukFarm Agency
Our Farm Agency team specialises in the sale of a diverse range of rural property
including commercial and residential farms, farmland, paddocks, modern and
traditional barns, woodland, fishing and sporting rights. With a full understanding of
our clients’ reasons for selling, we can ensure that our advice is tailored to achieve
the best possible outcome. This includes advising on the most suitable method of
sale, price and marketing strategy.
We provide coordinated national and regional marketing coverage for all farms and
larger land lots and act as a hub for buyers originating from outside the South West
who do not have specific requirements to buy in a particular location.
Rural Grants
Having developed an excellent working
knowledge of the rural grant system,
particularly relating to the Rural
Payments Agency, our Professional
Services team is well-equipped to offer
informed advice on the Basic Payment
Accountancy Scheme (BPS) and rural grant schemes
Our Estate Management division, in Devon, Somerset, Cornwall and
Michelmore Hughes Stags, offers Dorset. In particular we can assist with
a bespoke accountancy service for the Basic Payment Scheme, cross-
estates, in which our dedicated team compliance advice, nitrate vulnerable
of knowledgeable staff undertakes all zones requirements, rural land
your accounting needs. From purchase registration, Countryside Stewardship
ledger to rent demands, service charges and capital grant applications. The team
to paying contractors, Michelmore is also up-to-date with local authorities’
Hughes Stags can be relied on to run a capital grant funding initiatives and the
trustworthy, expert accountancy service opportunities available to estates and
for your estate. landowners.
stags.co.uk 11Michelmore Hughes Stags is the Estate Management division of Stags.
For further details visit stags.co.uk
Barnstaple Kingsbridge Tiverton
01271 322833 01548 853131 01884 235701
Bideford Launceston Torquay
01237 425030 01566 771808 01803 200160
Bridport Okehampton Totnes
01308 428000 01837 659420 01803 862002
Dartmouth Plymouth Truro
01803 835336 01752 223933 01872 264488
Dulverton South Molton Wadebridge
01398 323174 01769 572263 01208 222333
Exeter Taunton Wellington
01392 439046 01823 256625 01823 653424
Honiton Tavistock Yeovil
01404 45885 01822 612458 01935 475000You can also read
