Somerset solar park goes on the market

If you have a spare £886,000 lying around and are looking for a suitable investment, a solar farm park has just been listed for sale in what is reportedly the first deal of its kind for the UK property market. 

Located in Somerset, South West England, the freehold for the 32-acre solar farm is up for sale and is looking to achieve offers in the region of £886,000. According to Alder King – who have been tasked with marketing the solar park – it’s the first for the UK, with would-be investors being offered the unique green investment opportunity.

The size of 15 football pitches, built on what was agricultural land, the solar park has 20,000 solar PV panels and went online in 2011. Built in the village of Puriton, on the Somerset Levels, it generates around 4.22 MW of power and is the West Country’s biggest solar farm.

The park, which was built following a £14 million investment, is owned by BAE Systems and has been let to Puriton Solar Ltd on a 35-year lease. It’s estimated to bring in around £1.5 million annually under the feed-in tariff, which is a Government established scheme which pays money to producers of green energy, both for generating their own electricity and exporting it back to the National Grid.

Commenting on the unique sale, Alder King’s Oli Stretton said more and more investors who were looking for a secure income were finding this emerging sector increasing attractive.

“Whilst the mainstream property investment market remains challenging, we have been encouraged by the strong response we have received from investors to this unique green investment opportunity.”

Published by Katie Anderson on July 6th, 2012