MARKET REPORT
Forest market continues to move forward Simon Hart (FICFor, FRICS) and Olly Thompson (BSc For, MICFor) of John Clegg & Co report on latest sales and trends in the forest market across Great Britain. Recent sales in Wales Wales is showing continued strength with sizeable properties coming to the market. At over 215 stocked hectares at the time of sale (over 300 hectares gross), Mynogau in Powys completed in April this year. Typical in composition of a commercial Welsh forest planted in the 1960s, Mynogau is now going through the restructuring phase with improved Sitka spruce and, to a lesser extent, Douglas fir being the obvious species of choice for the second rotation. The forest has played host to the Redbull downhill MTB event for several years. At an average of 13 years, Mynogau sold for in excess of £16,000/ stocked hectare, which sits in with the general upward trend of prices from the past 6-12 months. A notable set of four mixed conifer properties completed in later Q1 of 2021, Bronnant, Waun Maenllwyd, South Dairy
and Craig Arthbry. They were part of a larger portfolio sale and with the exception of Craig Arthbry all properties were freehold. With an average age of less than 20 years, the three freehold properties sold for over £29,000 per stocked hectare. Cefn Llwyd, a very interesting and complex set of forests in north Wales, was brought to the market in early 2021. It consisted of six lots split over 1200 hectares. The larger lots dominated by large areas of mature Sitka spruce and Douglas fir dating back to the 1950s and 1960s. Some areas had previously been managed under various CCF systems, but sporadic windthrow has led to a greater use of clear fells and restocking with benefits of using improved planting stock. The guide price of £15m (average prices of approx. £16,000/total ha, but this did include some 200ha of moorland) was well exceeded.
Smaller properties in England Values continue to rise in the world of smaller properties, especially mixed broadleaved. Predominantly centred on west and south England these broadleaved woodlands can vary in their value per hectare with location being the main factor. Properties are often strongly contested through either an early offer in excess of guide price being accepted, or the rapid setting of a closing date. At only 9.3 hectares and sitting on the side of a hill near The Forest of Dean, Little Perlieu had an offer accepted with 10 days of being launched and will complete in excess of the £115,000 guide price (£12,000/ha). At the higher end of the market, Graffham Down and Queen Elizabeth Forest is located on the South Downs in West Sussex. At over 100 hectares of mixed broadleaved woodland, this property is complex and diverse. >>
Bronnant
CONFOR.ORG.UK
FORESTRY & TIMBER NEWS • August 2021 43
