|
Whether it’s for camping, walking or a spot of nature watching, owning a piece of the British countryside is about more than just making money…
WORDS BY PIPER TERRETT
Fed-up with your stressful, fast-paced lifestyle? When things get frantic, what could be better than escaping to your own patch of countryside, where you can pick real blackberries instead of being tormented by the demands of your electronic one?
For as little as £25,000 you could have your own beautiful stretch of woodland in the UK. Whether it’s for investment, for an income derived from forestry or simply for the pleasure of having a private camping ground, more and more people are choosing to buy land on which they have no intention to build.
“There is growing interest in buying woodland,” explains Jonathan Creasey of the Scotland office of estate agents Woodlands.co.uk, which sells woodland for “peaceful enjoyment”. “People are after their own bit of outdoor space —an escape from everyday life. Some of them just like the idea of owning a bit of Scotland.”
And it’s not just a fanciful dream. Land tends to be a solid investment over the long term, growing in value by between 5% and 12% a year.
“Our customers are frequently people who have had money in more traditional investments that haven’t performed well,” explains Joe Fielding, managing director of Woods4sale.co.uk. “We’ve seen money come from ISAs and endowment policies. Customers want to go into something that’s perceived as safer, and small woodlands have trebled in value in the last six years.”
What’s more, owners can generate income through timber production or by letting the land out for camping, fishing or paint-balling activities (although Woodlands. co.uk’s land comes with a covenant outlawing the latter).
For Ray Water, from Billericay in Essex, it was art rather than sport that prompted him to fulfill a long-held dream and buy 12 acres of woodland in Suffolk in 2003. “I’ve always been interested in shooting wildlife—with a camera!” says Ray, who now enjoys photographing deer and wild birds from his woodland hideaway, as well as running photography classes.
While it’s possible to employ a forestry company to look after woodland, Ray carries out one or two days of maintenance himself every month. “You have to make sure the trees are safe and keep records of your inspections,” he explains. “We have public liability insurance worth £5million, because if somebody trespasses on our land and a tree falls on them, we’re liable.” Felling trees, as well as any other major work, requires Ray to secure permission from Natural England (formerly English Nature) or face hefty fines.
And the costs of fulfilling a dream? “Upkeep costs about £1,500 a year, but that includes food for the wildlife.” Ray originally hoped to get land in Essex for around £2,000 an acre, but the high cost of land there prompted him to look further afield. He eventually decided on Suffolk, where the price he paid was closer to £4,000 an acre. However, the woodland’s value has risen since he bought it; a trend that’s common across the UK.
“Greenbelt land in this country is gaining value,” explains Damian Peters, senior sales consultant at Vantage Land. “The average piece of UK land is currently worth £4,500 an acre, and seven months ago it was £3,200 an acre. In the last 30 years land has risen by over 130% in value. It’s good to buy land; they’re not making more of it!”
Demand is growing strongly in the south-east of England, where three million new houses are planned in the next 12 years. “The woodlands in the south east have gone up in value first, but we’re now experiencing it all over the country, particularly in the Midlands,” says Joe Fielding from Woods4sale.co.uk.
On the down side, it’s difficult to get a mortgage solely to buy woodland, although it maybe possible to secure one from the Ecological Building Society. Estate agents say it’s easier to raise funds by remortgaging your existing residential property. And, because woodland is protected, you can’t build on it unless it’s a temporary structure such as a shed, and you can only camp on the land for up to 28 days a year. Plus, you’ll need public liability insurance, which will cost about £70 a year.
Purchasing woodland is less of a headache than purchasing residential property. It’s a lot quicker as there’s no chain, you won’t need a survey and conveyancing fees are usually only around £500. Plus, no council tax is payable on the land and no stamp duty is due on purchases under £120,000.
The tax man also looks kindly on woodland owners. The land is free from inheritance tax once it has been owned for over two years. And while any capital appreciation will be subject to capital gains tax when sold, timber sales are free from capital gains tax and income tax.
So it seems that owning your own little pocket of woodland really doesn’t involve going out on a limb.
Estate agents
www.woods4sale.co.uk
www.woodlands.co.uk w
ww.vantageland.co.uk
Information
www.woods4sale.co.uk/buying.htm www.lawsonfairbank.co.uk/woodland-ownership.asp
Forestry Management
www.redrockforestry.co.uk
Small Woods Association
www.smallwoods.org.uk
Forestry Commission
www.forestry.gov.uk
Royal Forestry Society
www.rfs.org.uk
Ecological Building Society
www.renovationmortgages.co.uk
Ray Water’s wildlife photography workshops www.woodpeckerworkshops.co.uk
• Do your homework—view several plots before buying.
• Decide what you want the land for—a hilly plot will give you good views, but flat woodland is more useful for camping.
• Think about the maintenance responsibilities—will you have the time to keep up the land, or would it be better to employ a forestry company?
• Get permission from the authorities before felling trees on your land.
• Make sure you’re clear about what activities can and cannot be carried out on your land. If you don’t abide by the rules you could wind up with a hefty fine.
• Find out if there are problems with travellers in the area—they have been known to camp on woodland.
• Ensure you have gates to protect the woodland and keep it secure.
• In Scotland, however, remember the public have the right to roam on woodland.
• Check with your local authority and the Forestry Commission if you’re eligible for any woodland management grants.
|