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UK’s Brooks Macdonald Sets Up Farming Business

Max Skjönsberg

31 May 2012

Brooks Macdonald Funds has started a new asset-backed farming business in the UK targeting investment in existing arable farms.

The asset manager has Christine Tacon as chairman of the new entity called UK Farming. She was managing director of The Co-operative Farms between 2000 and December last year and was also an executive board member of Co-operative Food Retail.

According to a new survey by Savills, the UK property firm, the average value of farmland is projected to increase by more than a third in the next five years.

UK Farming seeks to raise up to £20 million (around $31 million) from investors initially. The unquoted public limited company has engaged estate agent Chesterton Humberts to seek land to acquire.

The business is expected to qualify for business property relief which may enable investors who pay tax in the UK to protect their investment from inheritance tax.