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Zurich to sell £45 million UK asset

Zurich to sell £45 million UK asset

Zurich to sell £45 million UK asset Industry giant Zurich is reportedly selling its 4,227-acre estate in Hampshire following a review of its farmland investment portfolio.
 
The insurer is disposing of its Sutton Scotney Estate for £45 million, according to a report by Farmers Weekly.
 
The company explained that the decision was based on its “obligation to policyholders,” Farmers Weekly reported.
 
Giles Wordsworth, director of rural at selling agent Savills, told the news agency that Zurich had not actively pursued development opportunities for the property.
 
“[Zurich] has been more reactive in recent years than proactive with regards to developing the site,” Farmers Weekly quoted Wordsworth as saying.
 
“They’re selling because they’ve done an asset evaluation. They regularly review their assets within their property fund to ensure their obligation to policyholders is met,” he added.
 
Wordsworth said a number of people – from institutional investors to developers – would be interested in Zurich’s asset.
 
“There is something here that can’t be seen anywhere else in the country,” he told Farmers Weekly.
 
 
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