NEWSbeat


MARKET NEWS


Sporting estates selling well


While there is healthy demand for estates throughout Scotland, John Bound, partner


at CKD Galbraith in Inverness, says demand for sporting estates in the Highlands is at present particularly strong. CKD Galbraith reports an


active 2010 at the forefront of the Scottish estates market selling some of the most spectacular estates in the Highlands. Aberarder Estate, a 10,000 acre mixed sporting estate at the head of Strathnairn, south of Inverness, sold privately to a businessman from the south. Ledgowan Estate (pictured) near Achnasheen. a true ‘jewel’ in the Highlands, renowned for its superb deer stalking and extending to 12,000 acres was sold to an existing landowner from the central belt. Acting as buying agents, CKD Galbraith also purchased the 3,200-acre Leys Castle Estate, a well known agricultural and residential property on the southern outskirts of Inverness centred round Leys Castle. This was purchased by buyer in Inverness for whom the firm also acted successfully over the purchase of Garanahyne Estate on the Isle of Lewis. The property offers salmon


COMPLIANCE Fines for missing EPCs


Firms that alter their business premises may find themselves liable for providing their landlord


with a new Energy Performance Certificate (EPC) or face a hefty fine, warns Paul Burbidge, a partner at Gullands solicitors in Maidstone. An EPC is intended to inform


potential buyers or tenants about the energy performance of a building and provides an energy rating for a building which is based on the performance potential of the building itself and its services, such as heating, ventilation and lighting.


8 FEBRUARY 2011 PROPERTYdrum Paul Burbidge says, “An EPC is


generally required when a building is constructed, sold or let. What is not, however, commonly understood by owners and their advisors alike is that where a building is modified after an EPC has been provided, whether by reason of a fit out or otherwise and the heating, ventilation and lighting is modified then a further EPC may be required. “When the modifications are


physically complete it is the responsibility of the person carrying out those works to give a new EPC if required and recommendation report to the


building’s owner and to notify Building Control that this has been done. Building Control will not issue a certificate of completion until they are satisfied this has been done.” The local authority trading


standards department is responsible for enforcing the requirement to have an EPC on sale or let of a building and failure to make available an EPC means that the seller or landlord may be liable to a civil penalty charge notice. In most cases the penalty is 12.5 per cent of the rateable value of the building with a default penalty of £750 where the


formula cannot be applied. The range of penalties under this formula are set with a minimum of £500 and capped at a maximum of £5,000. Paul Burbidge concludes,


“As long as a valid EPC exists for the building you can provide this to prospective tenants. An EPC is valid for 10 years and during this period one can provide the same EPC to prospective tenants. The EPC will no longer be valid if a newer EPC has been registered. “If the building has been


modified or if you are planning on changing the building then a new EPC may be required.”


‘You seldom see an estate being marketed at a knock down price.’


and trout fishing, driven woodcock, grouse and wildfowl shooting and red deer stalking. With the value of the sporting estates market up strongly, the recession doesn’t appear to have had a marked effect on the demand that CKD Galbraith has been


experiencing. John Bound said, “It’s no surprise that the demand for Scottish Highland estates remains robust and the Highlands boast some of the most spectacular sporting estates around, with rich areas of deer stalking, some of the most famous salmon fishing in the country and fine grouse moors, many of which have experienced record bags in 2010. It is the quality of the sport in the Scottish Highlands that underpins the interest and at


present demand for good quality estates coming to the market outstrips supply. “Our assessment of the


market is that it has been relatively stable, not recession proof by any means but estates are not subject to quite the same price sensitivity that is experienced in the residential property market. “You seldom see an estate


being marketed at a knock down price and there is still a lot of money at the top end of the market.”


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