Wymeswold Solar Farm
Base rent plus a % of revenue
Mather Jamie acting on behalf of a private client were instructed to consider income generating opportunities for the Wymeswold Airfield. Mather Jamie identified the potential for a major, ground mounted solar development scheme. Mather Jamie managed the site from the selection of a development partner through the legal process and were involved in the project management of the complicated build stages.
Given the challenging nature of the land being in part a redundant airfield, Mather Jamie were very involved in the project management of the build phase of the development. Once completed the development was the largest ground mount solar scheme in the UK at 33Megawatts (c200 acres).
The agreed lease allowed for a base rent plus an additional top up relating to gross revenue of the development, which will allow the landowner to benefit from increases in electricity wholesale prices. The landowner is also contracted to manage the land under the solar panels in terms of weed control and grass growth for an additional rental payment.
The development provided an additional income on a 25 year lease, for a redundant airfield but also allowed the client to continue farming under the panels. Mather Jamie are currently actively involved in pioneering new farming methods under the solar panels – more to come…..