Rural estates keep on prospering
Incomes on rural estates in England continued the positive trend of recent years, albeit at a slower rate, by returning an average net income increase of 4.8 per cent. This growth was achieved despite income pressure on assets such as mineral receipts, which have been hit by the downturn in construction.
According to the Savills Estate Benchmarking Survey, the Northern and Eastern regions are more reliant on agriculture, whereas income from residential and commercial property dominated in the South East. Rural estates in the South West tapped into tourism.
Mike Pennington, head of Savills Estate Benchmarking Group said: “It is heartening that following many years of investment into core assets combined with a proactive approach to management, rural estates continue to prosper during the present economic uncertainty.”