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24/05/2004
Telecoms Revolution brings increased revenue for farming community
Thanks to the telecoms revolution, the farming community can look forward to increased income from their property assets, in the view of chartered surveyors and property consultants, Gerald Eve.
The primary reason for this is the roll out by telecoms operators of their 3G Networks during 2004/05. The new generation of mobile phones merges existing mobile technology with sound, pictures and video which means that more power and more booster stations are required. With the rapid development of the network it is expected to achieve 95% population coverage by 2007. It is estimated that an additional 25,000 sites will be needed by 2005.
Landowners with spare land or accessible rooftops could therefore find themselves considerably better off by renting sites to telecoms operators, providing they are well advised.
Ken Thurtell, senior partner at the Glasgow office of Gerald Eve, reports that the firm has already generated significant income for clients in this way. He says:
"We have seen a big increase in demand of late for our landowners' telecoms service. Whilst the siting of masts on unused land can provide a valuable extra income, many landowners are unaware of what to charge as well as being unclear on some of the more important factors like the most suitable location of masts and the legal details surrounding this.
"Last year, we assisted landowning clients achieve rental increases of up to 30% over original rental levels and on 22 sites, new lettings achieved in excess of £150,000 in rental income.
"Gerald Eve has established contacts within the telecoms sector and is fully appraised of recent similar lease agreements backed by substantial knowledge of the market in general. Where we can assist, is in negotiation on new lettings and in renegotiation with telecoms operators on the conclusion of rent reviews for existing equipment. In many instances this service can be free to the client as costs can often be recoverable from the telecoms operator.
"Increasingly, we are also influencing the modernisation of lease agreements between landowners and operators, working closely with our clients' legal advisers to achieve a win-win situation for all parties."
Gerald Eve's clients hold some of the largest property portfolios in the country. From its network of 10 offices across the UK, Gerald Eve has conducted £1.1 billion of investment transactions over the last 12 months, placing the firm within the top 10 in the UK's only investment agency league table.
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The primary reason for this is the roll out by telecoms operators of their 3G Networks during 2004/05. The new generation of mobile phones merges existing mobile technology with sound, pictures and video which means that more power and more booster stations are required. With the rapid development of the network it is expected to achieve 95% population coverage by 2007. It is estimated that an additional 25,000 sites will be needed by 2005.
Landowners with spare land or accessible rooftops could therefore find themselves considerably better off by renting sites to telecoms operators, providing they are well advised.
Ken Thurtell, senior partner at the Glasgow office of Gerald Eve, reports that the firm has already generated significant income for clients in this way. He says:
"We have seen a big increase in demand of late for our landowners' telecoms service. Whilst the siting of masts on unused land can provide a valuable extra income, many landowners are unaware of what to charge as well as being unclear on some of the more important factors like the most suitable location of masts and the legal details surrounding this.
"Last year, we assisted landowning clients achieve rental increases of up to 30% over original rental levels and on 22 sites, new lettings achieved in excess of £150,000 in rental income.
"Gerald Eve has established contacts within the telecoms sector and is fully appraised of recent similar lease agreements backed by substantial knowledge of the market in general. Where we can assist, is in negotiation on new lettings and in renegotiation with telecoms operators on the conclusion of rent reviews for existing equipment. In many instances this service can be free to the client as costs can often be recoverable from the telecoms operator.
"Increasingly, we are also influencing the modernisation of lease agreements between landowners and operators, working closely with our clients' legal advisers to achieve a win-win situation for all parties."
Gerald Eve's clients hold some of the largest property portfolios in the country. From its network of 10 offices across the UK, Gerald Eve has conducted £1.1 billion of investment transactions over the last 12 months, placing the firm within the top 10 in the UK's only investment agency league table.
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