Twenty seven forests sold for £113.4m across the UK
Twenty-seven forests from across England, Scotland and Wales have been sold as part of an investment fund portfolio disposal worth £113.4 million.
8,117 hectares of forest were sold by the Foresight Inheritance Tax Fund to Foresight Sustainable Forestry Company Plc (FSFC) with the sale being supported by Shakespeare Martineau’s Birmingham office.
The FSFC acquire 11 afforestation sites, 15 forestry sites and one site that is both afforestation and forestry.
Peter Mayhew, legal director at Shakespeare Martineau who advised Foresight Inheritance Tax Fund on the deal, said: “We’ve been working with Foresight for more than 20 years, supporting on billions of pounds worth of deals.
“This was a relatively complex deal including extensive negotiation and a pre-sale restructuring of the relevant assets presented for sale to FSFC. It’s great to be involved in such an important transaction for Foresight that is going to directly contribute to the afforestation targets of governments across the UK.”
FSFC produces sustainable home-grown timber alongside acquiring afforestation sites, in order to drive return through capital appreciation and access voluntary carbon credits.
Foresight Inheritance Tax Fund invests in infrastructure businesses and other related trades that offer a combination of stable and predictable cash flows, low correlation to economic, business and market cycles and relatively low default rates.
