Welcome

contents

New name, same service

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Welcome to Rural Matters, our magazine for rural businesses and those involved with them. 

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You may notice a slight change to the look of our third edition. We are now Galbraith, rather than CKD Galbraith, which reflects the continuing evolution of our own business and its brand. While the label is a fresh one, the people and the service behind it remain wholly committed to providing the highest quality advice and creative support that is the hallmark of our firm. It is certainly a time of change. Landowners, farmers and all involved in the rural sector are living and working in unprecedented circumstances. Brexit and our own constitutional uncertainty loom large at a time when businesses are dealing with an ever-increasing array of practical challenges. As is typically the case in general election years, we can see that the uncertainty caused may well slow the property market in the weeks leading up to June 8. Once the dust has settled however we believe the market will pick up again and continue to grow. With challenges come opportunities, and, in this edition we have a special focus on farm and estate diversification. We hope that this copy of Rural Matters will provide you with some considered current opinion, together with stimulating insights into issues and ideas that are front of mind for rural businesses. Iain Russell Chairman

Land reform: Selling a tenancy. Graduates at work and play. Diversifying? It may be time for tea.

8 The route to hydro success. United Auctions: a powerful alliance.

10 A valuable scheme for sporting estates.

12 The road to richer tourism.

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COVER STORY Advantages of contract farming. Ballindalloch's champions.

16 Long-term gains from forestry. Keeping trees in good health.

18 Ossian: The name for adventure. Valuing renewable assets.

20 Galbraith is Scotland’s leading independent property consultancy. Drawing on a century of experience in land and property management, the firm is progressive and dynamic, employing more than 250 people in offices throughout Scotland. The firm provides a full range of property consulting services across the commerical, residential, rural and energy sectors.

Pheasant woes. Field sports: Time for optimism.

22 Setting the scene for film success. Vodka tonic for potato farmers.

Galbraith provides a personal service, listening to clients and delivering advice to suit their particular opportunities and circumstances. Follow us on Twitter. Like us on Facebook. Join us on Linkedin.

Rural Matters is produced by Galbraith and designed by George Gray Media & Design, St Andeux, France. © CKD Galbraith LLP.

Page 2 | Rural Matters Summer 2017 | galbraithgroup.com

Shooting The considerable consternation that is being caused by the imminent reintroduction of business rates on shootings and deer forests is growing by the day. Farmers and landowners who have been deluged with paperwork requesting detailed and complex information are understandably confused as many of them have no history or interest in field sports. As someone with experience in rating valuation dating back more years than I care to remember and who works for a firm that is involved in the management of a large proportion of the Scottish countryside, I’m afraid to say this has come as no great surprise. One view is that the abolition of these rates some two decades ago was a sop to the landed classes but those closely involved suspected they cost far more to implement than they ever brought into the public coffers. Having recently met the representatives of the Scottish Assessors Association, who have been tasked with valuing sporting subjects, I learnt that they consider there to be greater evidence of land being leased for shooting than was previously the case. As a result of the evidence gathered to date they were also expecting to be able to make a number of entries in the roll by April 1 – the revaluation date – although most of the entries will follow over the next few months. At this stage, however, the specific valuation methodology is something of a mystery beyond it having to be based on the evidence collected and the premise of all rateable values i.e. an assessment of the open market rent that would