Purchase of Quadring Fen Farm
In 2010 the Duchy of Lancaster announced that, as part of an improvement plan for its agricultural land holdings, an investment would be made in the acquisition of higher quality farmland to add to its existing estates in England and Wales. The intention has been to acquire good quality farmland which may be adjacent to or contiguous with the Duchy’s existing land holdings, or the acquisition of a large enough block of land to be regarded as a new ‘standalone’ estate, or survey.
An initial investment by the Duchy was made in 2011 with the acquisition of 1,066 acres of land at Park Farm, Donington, South Lincolnshire. This was followed by a subsequent acquisition of 244 acres nearby at Drayton House Farm, Swineshead, in 2012. In October 2013, the Duchy has to acquired a further 560 acres of land comprising Quadring Fen Farm, subject to the farm business tenancy held by Lincolnshire Field Products Limited.There are further funds available for investment in high quality farmland in England and Wales.
All the land acquired comprises very good quality silt soils of Grade I and II character, and the total land holding acquired is capable of being farmed as one or in separate component parts. To date, the Duchy’s total investment has been £19m.
Commenting on the above acquisition, Mr. Philip Coles, the Duchy’s Rural Surveyor of Lands, said “This has been part of the Duchy’s strategic plan to improve the overall quality of its agricultural land holdings. Further funds are available for investment in similar quality farmland in England and Wales”.
Founded in the 13th century, the Duchy of Lancaster is a private portfolio of land, property and assets held for the Sovereign in Right of His or Her Duchy of Lancaster. Today the Duchy of Lancaster is custodian of 18,700 hectares across England and Wales, including key urban developments, historic buildings, high-quality farmland and areas of great natural beauty.
The Queen, as Sovereign, is entitled to the income from the Duchy estate, but not the capital or any capital gains which must be preserved for future Dukes of Lancaster.
For more information, visit www.duchyoflancaster.co.uk