Great opportunity if you have a ''small'' sum to invest !
Puriton Solar Park, which secured Feed-in Tariff accreditation last year, prior to the Government’s recent changes to the scheme, is let in its entirety to Puriton Solar Ltd on a new 35 year lease at an initial rent of £75,000 per annum.
The property is believed to be the first solar park to be offered as a traditional property investment opportunity in the UK.
The Park was established in 2011 on former agricultural land adjacent to Huntspill Energy Park. Following a £14 million investment by the tenant, the park now comprises approximately 20,000 solar PV panels generating approximately 4.22 MW of power. Thanks to its Feed in Tariff accreditation, the park will benefit from the higher Government-backed tariff for every kWh of electricity it produces for 25 years, generating an estimated £1.5 million revenue per annum.
Oli Stretton of Alder King says: “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. Puriton Solar Park offers long-term secure income, hedged against inflation via annual RPI linked rent reviews.
Investors looking for secure income appear to be finding this emerging sector a very attractive proposition.”