The Crown Estate has bought Rio Tinto’s 4,500-acre Alcan Farms portfolio in Northumberland.
The circa £20m purchase comprises agricultural land, farm buildings, 19 homes and a 13-turbine wind farm leased to Scottish Power Renewables.
Renamed the Ellington Estate by the Crown Estate, the portfolio will form part of the landlord’s 360,000-acre rural land portfolio.
The estate has been managed by Alcan Farms since 1972, after the land was acquired by Rio Tinto as part of the development of the former Lynemouth aluminium smelter. The smelter closed in March 2012.
Ken Jones, director of the Crown Estate’s rural and coastal portfolio, said: “The Ellington Estate is a fantastic addition to our portfolio, which is particularly attractive because it presents a diverse range of income sources.”
joanna.bourke@estatesgazette.com
