Lake Vyrnwy Estate in Wales’ Cambrian Mountains.
Knight Frank recently launched the historic 23 315 acre Lake Vyrnwy Estate in Wales’ Cambrian Mountains.
The estate surrounds Lake Vyrnwy, a reservoir created in 1892 at the end of the 19th Century by the Liverpool Corporation to supply clean water to the rapidly growing city – a function it still performs today.
At the time, the reservoir was the largest in Europe with the biggest masonry dam ever created. Villagers were re-housed further down the Vyrnwy Valley with a chapel on the edge of the lake the only visible sign of the flooded settlement.
The estate owned by Severn Trent Water, which is available on a 125 year lease, is the largest disposal of land in England or Wales in living memory. The guide price is £11m with the surface amenity rights over the lake itself available by separate negotiation.
The sale has been split into four lots and offers a diverse portfolio of property that will appeal to many different potential buyers.
Lot one includes almost 12 000 acres of in-hand farmland farmed jointly with the Royal Society for the Protection of Birds (RSPB) on an organic basis with a strong emphasis on the environment. Lot two is a diverse portfolio of let farms and land ranging from under two acres to almost 1 000 acres. There are 14 farms in total with all except one let under Agricultural Holdings Act tenancies. Lot three covers 5 000 acres of coniferous and beech woodland managed by Forestry Commission Wales. Lot four includes 31 residential and commercial properties let under a variety of different tenancies.
Tony Wray, Severn Trent’s chief executive, said: “Severn Trent runs all its estates sustainably and responsibly, but its core expertise is in providing excellent water and wastewater services for customers, rather than managing upland estates. There are other organisations that can concentrate more intensively on running the land at Vyrnwy. A responsible transfer process will bring benefits for all those living, working on and visiting the estate.
“We are committed to continuing our operational role at Vyrnwy and will retain a site presence to ensure this valuable asset is managed effectively and sustainably.”
Clive Hopkins, head of farm and estate sales at Knight Frank, says this sale presents numerous opportunities to potential buyers.
“Never before has a property of this size come to the open market in one block under a single ownership, not in my lifetime anyway. Due to such a diverse portfolio of property we expect interest from a wide variety of sources, institutions, pension funds, private landowners and investors.”
Call Lanice Steward on 021 671 9120 or email lanice@anneporter.co.za.
