Diversification avenue for farmers and landowners

Music festivals as a diversification avenue for landowners

 

Music festivals are very much a current trend, with an increasing number being held throughout the UK during the summer months. Landowners are increasingly viewing events of this nature as a diversification opportunity for their current business. Festivals can be held by way of a licence agreement under the management of a third party; offering a valuable alternative income stream and producing an attractive price per acre over and above agricultural value.

The individual characteristics of a site will determine the events that can be held there, varying according to location, infrastructure and accessibility to a populous area. As well as contributing an alternative income stream to the landowner, large events like festivals also benefit the local economy. Throughout the UK, festival reports show that festivals have generated a combined spending of over £1.7 billion each year and gaining a total tourism of nearly 3 million people, Glastonbury Festival alone is reported to generate over £100 million towards the local economy.

Fisher German have the expertise to explore alternative income stream options for your business with you, contact your local Fisher German office for further information.

Chester     01244 409660

Knutsford  01565 757970

Stafford     01785 220044

 


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