Why is Sutton Bridge Estate being sold?

[Pilatus]

As above, the Henry Smith charity is an extremely old charity compared to most

 

[Ramrod]

PROFIT (for Savills)
After asset stripping most of the houses and anything with/for planning, Savills have run out of items they can get a pull on.
Mostly what's left is the land for Savills to get commission on the sale.
HS charities supposedly paid £14.5m for it about 15-20 years ago, understand now looking for £55m.
Don't know, but believe as a charity not liable to tax.

 

[teslacoils]

If it paid 14m and gets 55m, for charity, isn't that a good thing?

 

[Pieces_of_Eight]

Euromillions tonight

 

[Pennine Ploughing]

Euromillions tonight

Aye, but there is no in hand land, its all rented out on FBT and AHA

 

[Pieces_of_Eight]

Aye, but there is no in hand land, its all rented out on FBT and AHA

Yes, a great investment opportunity for someone with a spare £60m

 

[Pennine Ploughing]

Yes, a great investment opportunity for someone with a spare £60m

It's the 60m that's the hurdle, I don't know where my ducks are never mind in a row

 

[Nearly]

Never mind the ducks, what about the tenants?



Are the charity likely to fall foul of the private school vat blollocks?

 

[Wooly]

Yes, a great investment opportunity for someone with a spare £60m

....... until Labour get into power..................

 

[steveR]

Where will the Charity put the £55-60M after a Sale though....?

Know of one small charitable trust, where the Trustees frittered the assets away, then sold the fixed assets, that money was then frittered away, Charity was wound up I believe....

 

[Ramrod]

If it paid 14m and gets 55m, for charity, isn't that a good thing?

Totally agree about charity fund.
Commission for agent won’t go to same though.

 

[teslacoils]

Totally agree about charity fund.
Commission for agent won’t go to same though.

If they were advised by agent to buy it, and it's made them £41m profit, I'd say the agent deserves a few tbh.

 

[Salopian_Will]

Some posters would be surprised as to how much of the land that has been offered for sale recently is owned by charities as part of a wider endowment. They buy and sell all of the time - if they see a profit worth taking then they'll go for it and why not. They could probably reinvest the proceeds in some pretty secure long-term bonds which will deliver a higher revenue return than the income off the estate. Sometimes they sell because they have a particularly high exposure to land as an asset class, and for Henry Smith Charity, I expect that to be the case. It only needs the value to swing a few percent and the value of their endowment could vary massively. It might be the case that some of the proceeds might be reinvested in other land holdings, perhaps of smaller lot size and with some more positive upside on value (development gains perhaps).

 

[Ramrod]

If they were advised by agent to buy it, and it's made them £41m profit, I'd say the agent deserves a few tbh.

Different agent on purchase

 

[Flatland guy]

If it paid 14m and gets 55m, for charity, isn't that a good thing?

I presume like most charities they can only give the income they receive. The base asset amount (either cash/ property/ shares etc) cannot be given away so whilst they will give more away if the income is higher, the assets continually keep accruing. Just googled and have an asset value of 1.2 billion in 2022.

 

[DrWazzock]

They got bored with it.

 

[Bongodog]

Large funds usually have an investment policy to split their investments between various sectors, in all likelihood they are presently over invested in agricultural land and are selling in order to spread their risk.

 

[Doing it for the kids]

Big estate in the Cotswolds being sold by the church I believe.

Start to wonder what these charities / the church know that we don’t!?

What’s round zee corner?

 

[yellow belly]

if labours tax system crashes the land price it could look a good move in a few years

 

[Adeptandy]

Must be why @Bob lincs brought his new Simba drill, soon be an announcement he’s added to his patch