Loading document...
In 2001 we tried to buy Lower Glen Tramman Farm Lezayre, which had an Agricultural condition. After a period of time negotiating our offer was accepted, the Estate Agents involved, delayed and then informed us another offer matching ours had been accepted and was now proceeding. On investigation we discovered that the 'new' offer which was allowed to proceed was from a 'Property' Developer. We approached the Planning Authorities DOLGE, who informed us it was very difficult to enforce. We suggested that if they didn't enforce it, an application to remove the tie would be submitted. One month later an application to remove the tie was submitted (00/0201/B), we objected and were granted party status. The basis of our objection was we would have bought and farmed Lower Glen Tramman Farm, this Application was refused at appeal. A short period later a second application was submitted (01/02692/B) again, we were granted party status and the basis of our objection, again, was that we would wish to farm the property but the tie was lifted following an appeal where the independent inspector upheld the appeal which was overturned by the then Minister for DOLGE Hon. Mrs Pam Crowe MHK on advice from the AG's chambers.
As a result of this we then applied to build on land owned by Angela's parents and we were declined but after three and half years we were successful in securing planning permission to build a 'tied' House.
We were very grateful for the opportunity to build and as a result, we were able to build up our agricultural business. However, during this, there was still great consternation, whilst building our house, as we could not obtain a self-build mortgage. The only two lending institutions, at the time, that would lend were, Abbey National and IOM Bank, but both required NHBC registered builders to undertake the construction work and the project had to be over seen by an Architect. Both of which would make the cost of building too excessive. So we committed with the equity we had, thinking once we had a shell we could perhaps gain a mortgage, but this was not to be, and then we had to take out several personal loans, at significantly greater cost. Once we had completed the build and received a completion Certificate we were able to convert these loans to a mortgage.
This however, had a significant impact on the development of our Agricultural business, as we could not then borrow to buy stock to stock the farm, to its full potential immediately. So unperturbed we continued building our stock numbers "organically" by keeping all our own replacements, which although a 'double whammy' (as you sell less lambs per year) it is a very slow method of expanding the flock, but by contract growing silage and contract rearing cattle we were able to utilise the farm land we had. We persevered in this manner and 15 years later had built our flock up to about 600 sheep. The full extent of our holding, all land we have rented or been allowed to graze short term or tenancies can be seen in Appendix I (enclosed)
Then Mr Higson, who inherited Regaby farm 5 years earlier, decided in mid 2016, he wished to develop his property on the Island. This is when; we started to investigate our borrowing potential, resulting in responses from the Lending institutions which are summarised and enclosed in Appendix II.
This then lead to our planning enquiry in August 2016, which resulted in our formal Planning Application January 2017 which has taken until now. In the meantime, the 'main' farm holding Regaby Moar, has had to be surrendered, as a result of Mr Higson selling land to Ballasyr Stud Ltd. The main Farm holding was where all our farm buildings were including; sheep shed; cattle shed; cattle handling facilities; and sheep pens; sheep dipper; grain store; and where all the winter
forage was stored hay, straw and silage. As a result of losing all this ground (~100acres, 50% of our holding), we became immediately over stocked and as a result of this had to sell the majority of our stock and in negotiating this sale had to release a further 55 acres of Ardonan to secure the sale of 400 sheep and ~600-700 lambs. This then meant there was no requirement for the summer let ground (which would have been for growing lambs and winter fodder). The remaining land we have left is Cronk Aust, 'bare' land only ~47 acres on a 'secure' 1969 tenancy and 1 field at Ballanoa ~10 acres on a short term 11 month let (taken from April). The remaining holding is shown in Appendix III (enclosed). The current tenancy agreement is up for renewal 12th November 2017 for Cronk Aust, and April 2018 for the short term lease of the field at Ballanoa.
Future
This remaining unit is now economically unviable, 'as things stand' and we will have to surrender the remaining land unless we can significantly 'diversify' and change are current farming system.
My Father-in-law has consented to sell us land, although we have not entered formal negotiations as yet, until we can secure lending facilities. Current land values are exampled in the Deeds submitted 16th August 2017 and a Chrystals Advert (Appendix IV, attached) and I am reliably informed this parcel of land has been sold (subject to contract) for near the asking price. This in turn would give an indication of the borrowings required to secure land around us and our borrowing potential is hopefully evidenced by a valuation undertaken by Mr Charles C Garside MRICS, RICS, which was £650,000 reduced by 40% because of the 'agricultural condition' which gave a residual value of £395,000. However, these figures are arbitrary with the 'Conditions' in place as we are not able to secure a mortgage, nor do we have any desire to sell our property. Full evidence of the Valuation and responses from the Lending institutions which are summarised and enclosed in Appendix II can be given, however, we have been informed that if they are submitted, in full, they must then be disclosed. Which I am not prepared to do, due to legal caveats outlined, in Appendix II.
Copyright in submitted documents remains with their authors. Request removal
