The nature and extent of diversification on rural estates in Britain

Summary

Whilst there has been strong recent interest in farm diversification and alternative uses of agricultural land, little has been written about the nature and extent of diversification on large rural estates. Indeed, from the few publications specifically intended for landowners, it is apparent that the issue of diversification is seen to be largely the same as that for farmers. Yet, as this paper shows, diversification on large estates involves a fundamental re‐evaluation of the allocation and use of the estate's resources. Thus, whilst farmers may decide between competing enterprises, landowners can make the decision to change or intensify the use of assets, convert assets to another form, exchange current assets for new ones through sale and purchase, or enter into a new trading venture using one of these asset manipulations. Examples of these options are outlined and discussed in the paper. The paper is concluded with a commentary on the role of diversification on rural estates and the issues facing the landlord and tenant relationship when agricultural tenants wish to diversify.

Keywords:

• Estate management
• agricultural land
• farm diversification
• rural estate development
• development strategy