A colossal forestry estate in Perthshire, distinguished by its operational wind energy installation, has been successfully acquired for a remarkable £145 million. This landmark transaction, involving the magnificent Griffin Forestry Estate near Aberfeldy, stands out as one of Scotland’s most substantial rural land sales in recorded history, significantly surpassing its initial guide price of £130 million.
The extensive property, spanning an impressive 5,630 hectares of diverse landscape, was strategically brought to market by Savills as two distinct parcels. The primary offering, known as Lot one, encompassed the expansive Griffin Forest, the smaller but significant Ballinloan A Forest, and the revenue-generating Griffin Wind Farm. This commanding section alone, covering 4,245 hectares, was initially listed for offers exceeding £105 million. A Dual Powerhouse: Timber and Renewable Energy
Griffin Forest boasts a rich arboreal heritage, featuring ancient Scots pine woodlands dating back to the 1800s, alongside a variety of other vital tree species contributing to the region’s timber production. Complementing this natural capital is the prominent Griffin Wind Farm, an established source of clean energy since 2012. This impressive facility houses 39 turbines, each capable of generating 2.3 megawatts, playing a crucial role in Scotland’s renewable energy landscape.
The second portion of the estate, Lot two, comprised the 1,389-hectare Moness Forest. Predominantly cultivated with Sitka spruce from the 1980s, this section was available for offers exceeding £25 million, highlighting the strong market appetite for sustainable forestry assets in the Perth and Kinross area. Gresham House Steps In: A Commitment to Sustainable Investment
The new custodians of this significant Perthshire estate are Gresham House, a London-based asset management firm. A spokesperson for Gresham House affirmed the company’s position as “one of the UK’s leading natural capital investors.” They articulated their commitment, stating, “Gresham House has a long track record in sustainable forestry management, delivering financial and environmental benefits.” Furthermore, the firm emphasised its alignment with national objectives, noting that its acquisition “directly supports the Scottish Government’s growth ambitions and the Climate Change Committee’s call to double tree planting over the next two decades.” Tracing the Estate’s Storied Past
The momentous sale was brought to public attention by renowned Scottish land ownership expert and former Green MSP, Andy Wightman. Writing on his insightful blog, Land Matters, Wightman provided a fascinating historical backdrop to the acquisition. He revealed a personal connection to the land, having planted much of the forest during his early career. He explained that a substantial part of the estate was once integrated into the historic Grandtully Estate before being sold to the Midland Bank Pension Fund in 1980, the bank’s griffin emblem providing the inspiration for the estate’s distinctive name.
Roughly two decades ago, the property transitioned into the ownership of Julia Hands, under whose stewardship the wind farm was subsequently developed. In 2012, Ms. Hands transferred the estate to her husband, Guy Hands, the prominent founder of the private equity firm Terra Firma Capital Partners and former chairman of the iconic record company EMI. The final sale price of £145 million solidifies its standing as “one of the most expensive rural estate acquisitions ever,” underscoring the escalating value and strategic importance of such multifaceted rural assets in Scotland.
For the Perth and Kinross community, particularly those in and around Aberfeldy, this sale marks a significant chapter for a substantial portion of their local landscape. The continued management of such a large forestry and renewable energy enterprise by a major natural capital investor signals a commitment to both economic and environmental stewardship in the heart of Highland Perthshire.
The extensive property, spanning an impressive 5,630 hectares of diverse landscape, was strategically brought to market by Savills as two distinct parcels. The primary offering, known as Lot one, encompassed the expansive Griffin Forest, the smaller but significant Ballinloan A Forest, and the revenue-generating Griffin Wind Farm. This commanding section alone, covering 4,245 hectares, was initially listed for offers exceeding £105 million. A Dual Powerhouse: Timber and Renewable Energy
Griffin Forest boasts a rich arboreal heritage, featuring ancient Scots pine woodlands dating back to the 1800s, alongside a variety of other vital tree species contributing to the region’s timber production. Complementing this natural capital is the prominent Griffin Wind Farm, an established source of clean energy since 2012. This impressive facility houses 39 turbines, each capable of generating 2.3 megawatts, playing a crucial role in Scotland’s renewable energy landscape.
The second portion of the estate, Lot two, comprised the 1,389-hectare Moness Forest. Predominantly cultivated with Sitka spruce from the 1980s, this section was available for offers exceeding £25 million, highlighting the strong market appetite for sustainable forestry assets in the Perth and Kinross area. Gresham House Steps In: A Commitment to Sustainable Investment
The new custodians of this significant Perthshire estate are Gresham House, a London-based asset management firm. A spokesperson for Gresham House affirmed the company’s position as “one of the UK’s leading natural capital investors.” They articulated their commitment, stating, “Gresham House has a long track record in sustainable forestry management, delivering financial and environmental benefits.” Furthermore, the firm emphasised its alignment with national objectives, noting that its acquisition “directly supports the Scottish Government’s growth ambitions and the Climate Change Committee’s call to double tree planting over the next two decades.” Tracing the Estate’s Storied Past
The momentous sale was brought to public attention by renowned Scottish land ownership expert and former Green MSP, Andy Wightman. Writing on his insightful blog, Land Matters, Wightman provided a fascinating historical backdrop to the acquisition. He revealed a personal connection to the land, having planted much of the forest during his early career. He explained that a substantial part of the estate was once integrated into the historic Grandtully Estate before being sold to the Midland Bank Pension Fund in 1980, the bank’s griffin emblem providing the inspiration for the estate’s distinctive name.
Roughly two decades ago, the property transitioned into the ownership of Julia Hands, under whose stewardship the wind farm was subsequently developed. In 2012, Ms. Hands transferred the estate to her husband, Guy Hands, the prominent founder of the private equity firm Terra Firma Capital Partners and former chairman of the iconic record company EMI. The final sale price of £145 million solidifies its standing as “one of the most expensive rural estate acquisitions ever,” underscoring the escalating value and strategic importance of such multifaceted rural assets in Scotland.
For the Perth and Kinross community, particularly those in and around Aberfeldy, this sale marks a significant chapter for a substantial portion of their local landscape. The continued management of such a large forestry and renewable energy enterprise by a major natural capital investor signals a commitment to both economic and environmental stewardship in the heart of Highland Perthshire.