Competitive farming the current economic climate is challenging with many key people stepping out of the industry for a more glamorous work is farm diversification the answer?
Farms throughout the country have many attributes which they can capitalise on whether it be offering new camping or glamping facilities’ through new activities or conversion of redundant buildings through farming permitted development and Class Q.
Adding additional revenue streams to existing farming businesses make sense. Taking the pressure off the main source of income the release of assets can be used to reinvest back into the main business. Diversification could be the answer:
More than half of UK farms have carried out a form of diversification according to new figures realised by DEFRA. A recent study found that over a twelve-month period the total revenue from these farm diversification activities was £580million in 2015/16. A study carried out by the UK Government found that on average farm diversification provided an extra £10,400.00 in additional revenue per farm.
Many activities include cheese making, pick your own fruit or participatory events such as One Man and his Dog or learning new country skills.
In some cases, offering bed and breakfast through holiday lets or converting redundant buildings have far exceeded traditional revenue streams offering a wealth of investment opportunities and development potentials.
What can I do on my farm?
Class Q allows conversion of certain types of barns into houses, even if they are isolated. Whilst these are subject to stringent conditions, this does offer a route of realising capital out of the land or a more passive conversion through holiday let portion.
If you have a project in mind and you would like to discuss it with the team at KODA architects, drop us a line or email us through out contact us page.
What this space for more helpful information in house secure planning permission for class Q barn conversions and more…