Brooks Macdonald launches farm investment

Brooks Macdonald Funds has launched an asset-backed investment business, UK Farming.

Christine Tacon has been appointed as the chairman of UK Farming plc, which Brooks Macdonald Funds expects will qualify for business property relief.

The new business is targeting an initial fundraising of up to £20m.

Tacon says: “Farming is an industry attracting increasing interest and, though subject to many external market forces, one that with sound commercial management can prove a sustainable long-term investment.”

The unquoted public limited company will target investment in existing arable farms, primarily for the production of cereal crops.

Tacon was previously the managing director of The Co-operative Farms Limited, from 2000 to December 2011, as well as being an executive board member of Co-operative Food Retail.

The minimum investment subscription is £10,000.