£50m Deal For RASE
UK - The Royal Agricultural Society of England has announced it has secured a £50 million deal with LaSalle Investment Management to safeguard the future of its Stoneleigh Park site as a ‘centre of rural excellence’.
12 January 2011
1 minute read
It is understood that La Salle will take over responsibility for the management and development of the 1,000 acre site in Warwickshire, which includes the showground and surrounding farmland.
The collaboration is centered on a 150-year lease with a commitment to invest £20 million by the end of 2012, up to a maximum of £50 million by 2020.
Financial concerns at RASE in recent years have seen several events disappear from Stoneleigh Park.
The NFU has its Agriculture House headquarters on the site.
NFU finance director Ken Sutherland said: “We still need to look at the full details of this deal but on the surface it’s extremely good news and we welcome badly needed investment in Stoneleigh Park and the introduction of professional management.
“Lack of viability in recent years has seen several events disappear from Stoneleigh Park including the Royal Show (last one in 2009) and more recently, the cancellation of the AgriLive Smithfield show.
“The NFU is committed to expanding its operation at Stoneleigh Park and we will continue with our plans to create a new conference facility. Meanwhile, we look forward to a constructive working relationship with the new landlord and we will be in urgent discussions to understand their plans more fully.”
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