LAND and assets at a closed Northumberland smelter have been put up for sale for £20m.
Farms, residential properties, development opportunities, an operational 13 turbine wind farm and strategic mineral assets at the site of the former Alcan Lynemouth smelter are being offered just over a year after it shut.
Bosses at Alcan said they hoped a deal could be agreed which would see the property portfolio transferred to “a responsible purchaser with long-term plans that will benefit the communities of Northumberland”.
The Alcan Farms portfolio is being offered for sale by agents YoungsRPS.
In all, the total landholding is 1,785.34 hectares – 4,411.57 acres. Offers in the region of £20m are being sought.
The land has been managed as part of the Alcan Farms business since 1973. It was originally purchased by the company to support operations at the smelter.
The majority of the land, 1,201.86 hectares (2,969.80 acres), is being offered with vacant possession alongside a further 583.48 hectares (1,441.77 acres), which is currently tenanted by Alcan Farms.
Graeme Bruce, partner at YoungsRPS and head of the company’s Alnwick office, said: “This portfolio offers many options.
“It is unusual on a number of levels and we are anticipating interest from a diverse range of potential buyers and investors. Firstly it provides a rare chance to purchase a large block of productive and well-managed farmland in one location, and as such will undoubtedly appeal to those with commercial farming interests nationwide and possibly even from overseas.
“Secondly, the location of the land offers a variety of development opportunities as well as income earning potential from the operational wind farm and residential property portfolio.
“With this in mind we are offering the portfolio in a total of five lots to cater for the varied interests although it would be the vendor’s preference to sell the whole portfolio as a going concern.
“This sale is certainly unique and has the potential to set down a number of markers for the property market nationwide at this early stage of the year.”
Demolition work at the former smelter will start this summer, about 18 months earlier than originally planned.