Wind Farm Investment Opportunity, Land At Bank & Afton, New Cumnock, Ayrshire, KA18
Offers Over
£3,000,000
- PROPERTY TYPE
Land
- SIZE
18,778,716 sq ft
1,744,601 sq m
Key features
- Benefit of a lease to RWE Renewables UK Onshore Wind Limited for the erection of four 4.8MW Wind Turbines – under construction in 2024/2025.
- Term of lease: 32 Years from 1st March 2023 to 28th February 2055.
- Minimum Rent of £160,297.83 per annum payable (*based on Indexation to January 2025) with top up rent payments due from Variable Income Rent.
- Forming part of the Enoch Hill Wind Farm (development 16 wind turbines in total).
- Opportunity for grazing or to generate additional income from grazing lets.
Description
SUMMARY OF SUBJECTS FOR SALE
The land at Bank and Afton is located approximately 4 miles south west of New Cumnock and 7 miles east of Dalmellington in the county of Ayrshire. The city of Glasgow lies about 45 miles to the north east.
The land comprises an area of upland grazing and is predominantly made up of open ground rising to about 477m above sea level around Benty Cowan Hill. It extends to approximately 174.46 hectares (431.10 acres) and is bounded to the south by a mature woodland plantation.
The land is classified as Grade 6.2 and 6.3 by the James Hutton Institute land Capability for Agriculture. The land at Bank and Afton is being offered for sale with the benefit of detailed planning permission for the erection of four 4.8MW wind turbines (19.2MW) forming part of the Enoch Hill Wind Farm, a development of 16 wind turbines in total.
The development has been promoted by RWE Renewables UK Onshore Wind Limited, a major renewable energy developer who are the operator of the wind farm and have a lease in place on the following terms:
- Term: 32 Years from 1st March 2023 to 28th February 2055.
- Rent Commencement Date: 1st Septemeber 2024.
- Minimum Rent: £6,000 (index linked to the RPI from June 2018)/MW installed payable quarterly in advance = £160,297.83/annum (index linked to January 2025).
- Variable Income Rent: From the Rent Commencement Date a Variable Income Rent is payable per annum as set out in the brochure less any Minimum Rent already paid for the rent year.
- The Rent Commencement Date is the 1st Septemeber 2024, the earlier of when electricity is first exported commercially from the Wind Farm or 18 months from the 1st March 2023.
- There are restrictions on woodland planting and erecting other structures over the wind protection zone.
- The Lease makes provision for habitat managment within the property.
- The Tenant is liable for decomissioning the wind farm and there is a Bond in place to cover decomissioning liabilities.
It should be noted that construction work on the windfarm commenced in June 2023, with approximately 3km of road infrastructure leading from the access point on the B741 being created on land adjacent to the subjects. The erection of the wind turbines is now under way, with the expectation that the construction of the wind farm will be completed in 2025.
METHOD OF SALE
Land at Bank & Afton is offered for sale as a whole.
VIEWING
Viewing is strictly by prior arrangement only. Names of parties and vehicle registration details will be required.
The land at Bank and Afton is located approximately 4 miles south west of New Cumnock and 7 miles east of Dalmellington in the county of Ayrshire. The city of Glasgow lies about 45 miles to the north east.
The land comprises an area of upland grazing and is predominantly made up of open ground rising to about 477m above sea level around Benty Cowan Hill. It extends to approximately 174.46 hectares (431.10 acres) and is bounded to the south by a mature woodland plantation.
The land is classified as Grade 6.2 and 6.3 by the James Hutton Institute land Capability for Agriculture. The land at Bank and Afton is being offered for sale with the benefit of detailed planning permission for the erection of four 4.8MW wind turbines (19.2MW) forming part of the Enoch Hill Wind Farm, a development of 16 wind turbines in total.
The development has been promoted by RWE Renewables UK Onshore Wind Limited, a major renewable energy developer who are the operator of the wind farm and have a lease in place on the following terms:
- Term: 32 Years from 1st March 2023 to 28th February 2055.
- Rent Commencement Date: 1st Septemeber 2024.
- Minimum Rent: £6,000 (index linked to the RPI from June 2018)/MW installed payable quarterly in advance = £160,297.83/annum (index linked to January 2025).
- Variable Income Rent: From the Rent Commencement Date a Variable Income Rent is payable per annum as set out in the brochure less any Minimum Rent already paid for the rent year.
- The Rent Commencement Date is the 1st Septemeber 2024, the earlier of when electricity is first exported commercially from the Wind Farm or 18 months from the 1st March 2023.
- There are restrictions on woodland planting and erecting other structures over the wind protection zone.
- The Lease makes provision for habitat managment within the property.
- The Tenant is liable for decomissioning the wind farm and there is a Bond in place to cover decomissioning liabilities.
It should be noted that construction work on the windfarm commenced in June 2023, with approximately 3km of road infrastructure leading from the access point on the B741 being created on land adjacent to the subjects. The erection of the wind turbines is now under way, with the expectation that the construction of the wind farm will be completed in 2025.
METHOD OF SALE
Land at Bank & Afton is offered for sale as a whole.
VIEWING
Viewing is strictly by prior arrangement only. Names of parties and vehicle registration details will be required.
Brochures
ParticularsWind Farm Investment Opportunity, Land At Bank & Afton, New Cumnock, Ayrshire, KA18
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- New Cumnock Station5.1 miles
Notes
These notes are private, only you can see them.
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