In recent weeks we have completed the acquisition of two further forestry plantations on behalf of Succession investors.
The first in Pembrokeshire comprises 175 acres of established crops on an old dairy farm. The land benefits from being completely flat with heavy fertile soil. The forest comprises of Sitka Spruce predominately with some Ash, Douglas Fir and mixed broadleaves. The majority of the crop was planted in 2000 and therefore expected to reach maturity in approximately 15 years.
The second property, also in Wales, near Corwen is a smaller site of 128 acres but has high quality Sitka Spruce crops growing. The forest will benefit from some thinning in the next year or so but otherwise the twenty-year-old crops will mature over the next 15 years.
Jonathan Gain, CEO of Stellar commented ‘We were pleased to secure both of these properties off market through our experienced forestry advisers. The acquisitions are ideal for IHT investors who retain a longer term view. The properties will benefit from hands on management of a dedicated forestry team.’
We have another forest in solicitor’s hands and are regularly bidding on new opportunities. We remain positive on the prospects for long term forestry values.
We also have other deals for Succession in various stages of due diligence and we will be announcing the progress of these in the coming weeks.