Putting all our eggs in one basket is not the best idea – especially when you are at the mercy of the weather or whim of market forces. A healthy business has a number of revenue streams.
Today’s landowners are using their estates in a myriad of ways. And diversification into commercial property – workshops, offices and shops – is proving successful. The major benefit is regular rental income which is not weather or subsidy dependent or affected by oil prices and exchange rates.
Business revenues at Midlands farmer George Matts’ 500-acre working farm now break down to 45% arable, 45% commercial property and 10% sheep/stock.
Work began on converting surplus farm buildings 15 years ago, Matts – who advertises on Boxpod – has enjoyed largely uninterrupted 100% occupancy of the 28 residential properties, office and workshop units.
“It’s been good for us, when commodity prices and subsidies are poor, it’s been a good regular source of income.”
Boxpod’s MD Nick Marlow believes the government and councils must support this massively important part of our economy. He said: “Farmers should be encouraged to diversify and make good use of unused farm buildings and land. It gives local businesses a home and brings in rental income. It’s a win, win situation.”
Boxpod helps farmers and landlords by offering cost-effective advertising of commercial property units.