The Duchy makes major agricultural investment
Affirming its commitment to the agricultural market, The Duchy of Lancaster has made a multi million pound investment in prime agricultural land in Lincolnshire.
The Duchy has purchased a 1,017-acre farm in Donington, near Spalding, via a sale and leaseback agreement. The site will continue to operate as a high performing arable farm, whose most important crops are potatoes, sugar beet and cereals. The acquisition includes an area of land designated for employment use which could provide much needed jobs in the local area.
Property agency and specialist agri-business consultants, Bidwells, acted on behalf of The Duchy to complete the transaction and will be the managing agent for the property. Tom White of Brown & Co, Spalding, represented the vendor.
Paul Clarke CVO, CEO and Clerk of The Duchy of Lancaster, said: “This is a major investment that underlines our long-term commitment to the rural community and agricultural sector. The purchase of this arable land improves the diversity and versatility of The Duchy’s agricultural assets by counterbalancing its extensive portfolio of dairy and livestock units.
“The farm is very productive with top quality soil and high yielding crops. We will be working closely with our tenants and Bidwells to build on this success and ensure future growth.”
Ian Monks, Partner at Bidwells added: “We are pleased to have been able to work with the Duchy on this important acquisition and to identify such a high quality farm in the heart of the most productive agricultural area in the country. The Duchy’s purchase will hopefully create other opportunities for them in the area.”