There is a recent satellite view on Google Earth (https://www.google.ch/maps/@55.7082578,-3.8019207,2458m/data=!3m1!1e3). I assume the different amounts of growth reflect the various trees which were initially planted (Scots pine, Sitka spruce, Pinus contorta), reacting differently perhaps to the neglect over the past 40 years...
The alternative to an outright sale to an external buyer seems to be to harvest the trees now, or in the next few years, replant, and leave the result to one's grandchildren in 70 years' time. How would one set about this, and would it be sensible if more than one plotholder got together and collaborated in finding a firm to fell and market the timber?
Wednesday, 11 February 2015
Sunday, 17 November 2013
Thursday, 14 November 2013
Time something was done - calling all plot owners
In the 1970s, Frank Chapman, of Australian Land Sales, established Wood and Leisure Land. It sold timeshares (at Plas Talgarth in Wales and Loch Rannoch in Scotland), and parcels of woodland (e.g. Baddengorm in Invernessshire, Cobairdy in Aberdeenshire - and ours).
Cartland Muir Plantation in Lanarkshire covers 202.6 acres. It was divided into 53 plots, 51 of which were to be sold off to investors. 50 were sold. Some of us bought more than one plot.
The proposed benefits were the freehold tenure of the land, with growing timber, which promised a long-term capital gain. In addition, there would be an income from thinnings and final felling - this was anticipated to start some 20 years after planting (i.e. in the case of most of the plantation, around 1988) and thereafter every five years until a clear felling some 60 years after planting (i.e. 2028 - or 2012 in the case of plots 1-7).
We were told that we might expect a yield over 20 years of between £750 and £1,780 per acre at 1973 prices - a return in real terms of between 5% and 12% per annum. Agricultural land was also increasing in value at the time.
Wood and Leisure Land managed the woods under a management agreement with the landowners, for a fee of £10 per acre per annum, plus VAT. The agreement was for an initial term of 15 years, renewable thereafter every five years.
In 1982, Frank Chapman sold his business to Barratt Developments, the builders. They had little interest in woodland, and their subsidiary Barratt International Resorts concentrated on timeshares (eventually being taken over by Macdonald Hotels between 1997 and 2003).
In 1989, Barratts wrote to plot-owners, saying that would not renew the management agreement. They planned to sell the woodland in complete plantations, subject to the agreement of all plot-owners.
In 1994, Barratts again wrote to say that they had engaged John Clegg and Co to try and sell Cartland Muir as a whole. John Clegg's valuation suggested that the 51 plots, for which the owners had paid some £74,000 in total (plus some £3,000 in conveyancing fees, plus over £32,500 in management fees) might realize some £65,000 on a sale.
Most, but not all, plot-owners agreed to this proposal, and forwarded their title deeds to Wood and Leisure Land's solicitors, Tods Murray.
In 2003, Tods Murray wrote to plot-owners who had deposited their deeds with them, describing a proposed sale to Community Windpower Ltd for £144,000, which, after expenses, might be an opportunity for investors to break even.
The idea of a wind farm on Cartland Muir met (unjustified) local opposition, however, and fell through.
As a result, we plot-owners are left with woods which are
Cartland Muir Plantation in Lanarkshire covers 202.6 acres. It was divided into 53 plots, 51 of which were to be sold off to investors. 50 were sold. Some of us bought more than one plot.
The proposed benefits were the freehold tenure of the land, with growing timber, which promised a long-term capital gain. In addition, there would be an income from thinnings and final felling - this was anticipated to start some 20 years after planting (i.e. in the case of most of the plantation, around 1988) and thereafter every five years until a clear felling some 60 years after planting (i.e. 2028 - or 2012 in the case of plots 1-7).
We were told that we might expect a yield over 20 years of between £750 and £1,780 per acre at 1973 prices - a return in real terms of between 5% and 12% per annum. Agricultural land was also increasing in value at the time.
Wood and Leisure Land managed the woods under a management agreement with the landowners, for a fee of £10 per acre per annum, plus VAT. The agreement was for an initial term of 15 years, renewable thereafter every five years.
In 1982, Frank Chapman sold his business to Barratt Developments, the builders. They had little interest in woodland, and their subsidiary Barratt International Resorts concentrated on timeshares (eventually being taken over by Macdonald Hotels between 1997 and 2003).
In 1989, Barratts wrote to plot-owners, saying that would not renew the management agreement. They planned to sell the woodland in complete plantations, subject to the agreement of all plot-owners.
In 1994, Barratts again wrote to say that they had engaged John Clegg and Co to try and sell Cartland Muir as a whole. John Clegg's valuation suggested that the 51 plots, for which the owners had paid some £74,000 in total (plus some £3,000 in conveyancing fees, plus over £32,500 in management fees) might realize some £65,000 on a sale.
Most, but not all, plot-owners agreed to this proposal, and forwarded their title deeds to Wood and Leisure Land's solicitors, Tods Murray.
In 2003, Tods Murray wrote to plot-owners who had deposited their deeds with them, describing a proposed sale to Community Windpower Ltd for £144,000, which, after expenses, might be an opportunity for investors to break even.
The idea of a wind farm on Cartland Muir met (unjustified) local opposition, however, and fell through.
As a result, we plot-owners are left with woods which are
- unmanaged and in need of attention
- not producing revenue from the sale of timber
- practically unsaleable if the owners cannot establish a consortium of all of us
Subscribe to:
Comments (Atom)