Closing Date Set Mireland Forest, Wick, Highland, KW1 4UD

Freehold
£400,000
CLOSING DATE SET FOR THURSDAY 23 MAY 2019 AT 12.00 NOON. For full details please request a copy of the sales brochures

Introduction
Mireland Forest is a significant, well established area of commercial forest located close to the A99 trunk road, with impressive views southeast over Sinclair’s Bay. The property will appeal to those seeking to purchase an extensive area of
commercial forestry for investment purposes. At the same time purchasers may take enjoyment from the development of the forest as it matures, and from the amenity and challenging deer stalking it offers.

Location and Directions (see location map)
Mireland is situated approximately 6 miles north of Wick, lying just to the east of the A99 Wick to John O’Groats road. Travelling from Wick, follow the A99 towards John O’Groats for approximately 5 miles. Turn left off the A99 at the turning west, signposted Lyth, 4.5 miles. Continue along this unclassified road for approximately one mile and the entrance to Mireland is at the field gate on your left.

Access and Timber Markets
The one mile of public road from Mireland to the A99 trunk road is identified as a consultation route for timber haulage on the Timber Transport Forums Agreed Routes Map.

Mireland is only 5 miles from timber shipping facilities at the Port of Wick, and from Wick there is trunk road access to wider timber markets via the A99 and A9. Timber is currently freighted in bulk quantities from Wick for export to Europe and various timber markets in the UK. Local markets for
timber are located at Dingwall and Dalcross and the wood energy mill at Invergordon.

There is no existing internal road system within the property, but the established field entrance to the northeast of the property adjoining the public road (Grid Reference ND 318 603) could provide the entry point for vehicular access from the public road, subject to gaining the necessary consents.

Viewing and Guide Price
Persons in possession of these particulars may undertake viewing at any reasonable time.
Potential purchasers are advised to formally register their interest in the property so that they may be informed if a closing date for offers is set.

Offers in excess of £400,000 are invited

The Forest
Mireland extends to approximately 179.1ha (area according to Title), of which 156ha or thereby is stocked with commercial conifer crops; the remaining areas comprise Other Land, Open Ground and water bodies. The forest was planted over the years 1983 -1984. Mireland is predominantly stocked with Sitka spruce in mixture with Lodgepole pine (in ‘Triple X’ mixture). The nursing benefit of the Lodgepole pine to the Sitka spruce is apparent, with dominance of Sitka spruce in all compartments.

Mireland also holds attractive stands of pure Sitka spruce. A full Yield Class survey was not conducted. Prospective purchasers should make their own assessment of growth rates, however the average yield class for Lodgepole pine is estimated at yield class 8 with the Sitka spruce being between yield class 10 -18.

There are attractive areas of open ground within the woodland, on the banks of the Lyth burn which bisects the property, and to the south east where distinctive wetlands, hosting a variety of vascular plants, form part of the Loch of Wester SSSI.
Compartment data is available from the Selling Agents.

Prospective purchasers should note that the Compartment Schedule records an area of 180.4ha and the Title Deeds identify the area of the property as 179.1ha. The area for sale is that identified in the Title Deeds.

Please note there are minor differences between Title area and forest area – the subjects will be sold according to Title.

Management
Mireland is free from any Grant Scheme or Long Term Forest Plan obligations, providing the potential purchaser with flexibility in determining future management of the forest.

There are no active grant schemes in place and no transfer of obligations undertaking will be required.
Detailed information on the Scotland Rural
Development Programme, including Forestry grants, is available through the following websites:
https://www.ruralpayments.org/publicsite/futures/topics/all-schemes/forestry-grant-scheme/

Sporting Rights
The sporting rights are included in the sale. Roe deer are present within the properties and the configuration of well stocked standing crops and open ground provide challenging stalking opportunities.

Minerals
Mineral rights are included insofar as belonging to the seller except as provided for by statute.

Boundaries
Mireland is stock fenced where it adjoins agricultural uses.

Maintenance costs of the stock fence section A-B are jointly and equally shared with the neighbouring landowner.

Third Party Rights
The property will be sold subject to and with the benefits of all servitude rights, burdens, reservations and any other third party rights, howsoever constituted.

An overhead electricity transmission line runs just within the north eastern boundary of the property for which annual wayleave payments are made.
There is a light railway which bisects the property to the south. This area is leased to a third party for uses related to the energy industry. This lease, which provides an annual income, runs until 2020. Details of this lease are available from the Vendor’s solicitors on request. While there are presently no further third party leases or options to lease on
the property, Mireland has previously attracted interest from renewable energy developers.

Taxation
At present, all revenue from commercial timber sales is exempt from Income Tax and Corporation Tax. Growing timber is exempt from Capital Gains Tax, although there may be a liability on the land. Under the current Inheritance Tax regime, 100% Business Property relief is available on commercial woodlands after 2 years of ownership.

Prospective purchasers are strongly advised to consult their financial advisers to ascertain how these tax concessions may be of benefit.

Closing Date
Prospective purchasers should formally note their interest to the selling agents in order that they may be notified of a closing date.

Contact
Bidwells
Tel: 01738 63066
andy.turnbull@bidwells.co.uk

Authorities
Forestry Commission Scotland
Highland Conservancy
Fodderty Way
Dingwall IV15 8XB
Tel: 01349 862144
Fax: 01349 866624

Local Authority
The Highland Council
Glenurquhart Road
Inverness
IV3 5NX
Tel: 01349 886606

Agents Notes
For clarification, we wish to inform prospective purchasers that we have prepared these sales particulars as a general guide. We have not carried out a survey.

Given the potential hazards of a working forest we would ask you to be as vigilant as possible for your own personal safety when making an inspection of this property.

If communications, condition of the property, situation or other such factors are of particular importance to you, please discuss these priorities with us before arranging an appointment to view. This should avoid a wasted journey.

Any photographs displayed in these particulars depict only part of the property and it should not be assumed that the property remains as displayed in the photographs. No assumptions should be made regarding other parts of the property that have not been photographed.

The property being open to inspection, the purchaser(s) shall be deemed to have full knowledge of the state and condition thereof and as to the ownership of any boundary or part of the property.

These particulars do not constitute an offer or contract of part thereof. Bidwells LLP do not make or give either in these particulars or during negotiations or otherwise, any warranty or representation whatever in relation to this
property. All measurements are given as a guide and no liability can be accepted for any errors arising therefrom. No responsibility is taken for any omission or miss-statement in these particulars.
Bidwells LLP is a limited liability partnership registered in England & Wales (registered number OC344553). Registered head office is Bidwell House, Trumpington Road, Cambridge
CB2 9LD, where a list of members is available for inspection.

Particulars prepared March 2019 Photographs taken July/August 2015
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