Following conclusion of the largest open market forestry transaction in Scotland in over a year, property firm Bidwells has revealed remarkable levels of interest in two large Borders forests.
The sale of 625 hectares of spruce near Moffatt and over 1,000 hectares near Jedburgh – with a combined asking price of £7.1 million – attracted total offers in excess of £63 million.
Bidwells handled the sale on behalf of a UK pension fund. A private investor successfully purchased the two forests for ‘very significantly’ over £10 million.
Raymond Henderson, Perth-based Partner at Bidwells, said: “This deal proves the continued attraction of productive forestry as a tangible, green investment which benefits from significant tax incentives.
“The market has been bolstered in recent years by strong timber prices and a rosy outlook for more of the same thanks in part to demand for sustainable wood for renewable energy.
“Interest was also strong in a 55 hectare forest in Argyll which recently went to a closing date. And we anticipate keen bidding on a 120 hectare area of commercial woodland in Ayrshire when offers are to be received on 14 February”
Both Leithope and Badlieu forests are planted predominantly with good quality Sitka spruce and enjoy sporting rights.
Bidwells Scotland operates from three locations in Perth, Inverness and Fort William. The Firm provides a full range of services across the rural and commercial sectors with particular expertise in estate management, forestry, renewables, commercial property,