Duke cuts farm rents by 15%
THE Duke of Northumberland has agreed to cut his tenant farmers rents by 15%.
The duke has offered the 170 tenants, who pay between £55 and £65 an acre, the choice of a rent decrease or improvements on their farms.
He explained his decision by saying that the last 18 months have been “the worst in living memory”.
He said poor weather and low yields, on top of a high Pound, low prices and BSE, have produced “a rotten cocktail”.
The dukes family seat is Alnwick Castle, set in 40,470ha (100,000 acres), as well as Syon House in London and a shooting lodge in Berwickshire.
The tenants farms range from 80ha to 404ha (200 to 1000 acres). Northumberland Estates has a turnover of £100m.
- The Times 02/03/02/99 page 5