Coal company offloads land

UK Coal is to sell about 9000 acres of its agricultural portfolio in the midlands, north east and Scotland to help shore up its operations which were hit by a £129m pre-tax loss in 2009.

The sale is a mix of areas set-aside for pit development, old workings and restored land. Smiths Gore’s Simon Bainbridge expected to offer the land as large lots that would appeal to investors.

“It will be very different from our other sales which were very much geared to attract existing tenants,” he added.