Vincent Tchenguiz, the property, cleantech and environmental entrepreneur, has joined a growing number of investors who see British farmland as a potential boom area. Consensus Business Group has advised Wheddon Ltd (whose beneficial owners are the Tchenguiz family trusts) to make an investment in the innovative Braemar UK Agricultural Land plc ahead of its expected Autumn flotation. This investment will buy them a slice of Britain's countryside along with dozens of other High Net Worth shareholders, including entrepreneurs, sportsmen, professionals, retirees and even farmers!
Braemar Group's UK Agricultural Land business is designed to benefit from the rising cost of land as UK prices move into line with those elsewhere in Europe. Rising crop prices and an increase in the use of bio-fuels are beginning to push UK land prices up and commentators are predicting that British farmland is at the beginning of a long-term bull run. While the 'credit crunch' is showing no signs of abating, with its resultant negative impact on residential and commercial property, investors are seeing the attraction of this alternative investment, which has the added benefit of being Inheritance Tax friendly.
Vincent Tchenguiz, Chairman of Consensus commented:
"I love the idea of this company – it sees the convergence of my two major interests – property and the environment. Altruism aside, this is an excellent opportunity as supply constraints and price pressures combine to enhance the potential value of British farmland. You won't see me driving a combine harvester, but we look forward to reaping the rewards."
Marc Duschenes, Chief Executive of Braemar Group added:
"I am delighted that Vincent has agreed an investment in Braemar Agricultural Land plc. He believes, as we do, that this is a huge growth area in the current climate, and with food and oil prices increasing rapidly, there is every reason to believe that the demand for UK land for both food and bio-fuel crops will continue to remain high for many years to come. Following this investment we will be actively pursuing a flotation of this simple, yet exciting business."
