Farm Business Tenancy Restructure
Wilson Fearnall was asked to review and formalise and new arrangement between Landlord and Farming tenant for 120 acres of land in Cheshire.
Historically the land had been let on an informal arrangement but this left a number of ‘grey areas’ that favoured neither party. After reviewing the Landlords short, medium and long term plans a new agreement was drafted that clarified the position for both parties with significant benefits for both side including:
- Landlord
- Increased rent and formal rent review provisions
- Fixed Term
- Inclusion of Single Farm Payment, Entry and Higher Level Stewardship provisions
- Improved Inheritance Tax position
- Tenant
- Fixed Term security
- Clear definitions for environmental liability
- Secure NVZ allowances
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