What will the end of agricultural subsidies mean?
The findings of a survey of Savills rural professionals are reported in the recently published Spotlight – Future of Land Occupation, looking at what might happen to land as a result of the withdrawal of direct support payments.
Nine out of 10 of think that tenancies will continue to be their leading recommendation to institutional and corporate landowners, for whom the level and stability of return remains the most important factor.
Nine out of 10 also said that ESG (environmental, social, and governance) policies of institutional and corporate landowners are influencing their rural asset management.
Half believe environmental skills and knowledge will become very important attributes when selecting a new tenant or business partner.
Land managers are increasingly wanting to leverage land’s natural capital through income from nature-based carbon sequestration, biodiversity uplift and water catchment management. Careful thought must be given to what action the market requires and how these could be enabled within the context of a tenancy.
Rhydian Scurlock-Jones, rural director at Savills in the West Midlands
