Farmers in Scotland are being urged to look at wind turbines more like crops and less like a large-scale investment in property.
Galbraith, a property consultancy in Scotland, are telling farmers that they should consider the turbines as an investment which will generate income in the future, like they would crops they’d planted.
The company believe that many farmers are considering turbines but many don’t see a quick return.
Galbraith wants Scottish farmers to see a wind turbine is an asset that can be sold on again in future.
Calum Innes, partner with Galbraith, said: “Many farmers and land owners view wind turbines as an investment in property rather than a crop or item of plant. However, it is a depreciating asset and it is important to examine that investment and balance the long-term benefits of selling and holding.”
According to Galbraith, the preferred option would be to sell the turbine and its underlying income stream whilst retaining the land subject to a lease.
Innes added: “Farmers are told land is irreplaceable, but this should not necessarily extend to a wind turbine. It is another piece of metal machinery and without careful management will eventually end up around the back of the hay shed in a rusting heap,” said Mr Innes.
“There is a time to harvest crops and sell animals for maximum yield, bearing in mind input of work, veterinary bills, maintenance costs and the rest. Similarly, turbines built in the past eight years may currently offer an opportunity for a substantial capital gain yet face declining value. This may be the time where the sensible thing to do is to take some cash off the table and use that to secure a firmer future.”
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