Business description

A rare opportunity to acquire a substantial Crown Estates Leasehold Site, ideally suited for Mussel Farming. The site has been used for farming Mussels with previous approval for 20 x 200 metre lines, giving an output of circa 600 - 800 tonnes. The Vendor is currently at advanced stage of planning application for an extension to the site to initially accommodate 75 x 110 metre lines with further scope to expand the output by up to 300%.

Key Opportunities:

The plot has previously held approval for 20 x 200 metre lines (4,000 metres total), giving a potential output of 600-800 tonnes., On approval of the planning application there will be permission for 75 x 110 metre lines or 8,250 metres total approximating 900 - 1,500 tonnes output. [though the] Potential on-site capacity is circa 25,000 metres of line, with an output of circa 2,700 - 4,500 tonnes per cycle. The Mussels take between 24 and 30 months to mature from freely available local Mussel Spat and the estimated wholesale price of mature Mussels in 2010 is £2,200 per tonne, giving a potential return on investment of between £6 - £10 million per cycle.

Financial Information:

All financial discussions will take place directly between the Vendor and all interested parties under the auspices of Turner Butler.

The Farm isn’t operational and doesn’t currently generate any revenue due to the ill health of the current owner.

The Vendor has negotiated advance Enterprise Investment Scheme (EIS) approval with HM Revenue and Customs. EIS may entitle the purchaser to claim Income Tax relief and Capital Gains Tax exemption.

Grant Aid is available to the purchaser from local and European sources towards capital and expenditure.

Property information

Property:

Leasehold

Location:

The Site is held on a Crown Estates, 10 year renewable lease.Access to site from existing harbour.Site within EU designated shellfish growing area.

Other information

Support & training:

The current owner would be more than happy to give advice and guidance to the new owner and introductions to sources of equipment, grant aid, suppliers and customers.

Reasons for selling:

The business is for sale only due to the present owners’ ill health and that is reflected in the current turnover and modest asking price.