The Royal Agricultural Society of England has secured a £50m capital investment to revitalise its 1,047 acre Stoneleigh Park estate through a collaboration with LaSalle Investment Management.
Stoneleigh in Warwickshire accommodates agricultural, horticultural, equestrian, animal welfare and rural organisations.
The collaboration takes the form of a 150-year lease of all the property owned or controlled at Stoneleigh by the RASE.
The agreement will deliver an immediate and substantial pension-fund investment and an annual income for the charitable activities of RASE.
LaSalle has committed to £20m in capital investment by the end of 2012 and to a maximum of £50m by 2020.
The lease gives LaSalle the ability to sublet all buildings and to redevelop the estate, subject to consistency with the “core purposes” of the RASE.
An early priority will be to review access to Stoneleigh and the amenities for tenants.
LaSalle’s European director Andrew Bull said: “Stoneleigh has the strong potential to be the hub and showcase for farming’s future.
“Its central location, long history and active research programme are a powerful draw for any business interacting with the agricultural and equine sector. This is a place where agricultural, equine and rural businesses of all descriptions can prosper.”
Stoneleigh Park’s current 140 tenants occupy 247 acres at the heart of the estate and employ over 2,000 people.
They include the National Farmers Union, the Agriculture and Horticulture Development Board, the British Equestrian Federation and the British Horse Society.
Nick.whitten@estatesgazette.com
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