FREEHOLD FOR SALE BY PRIVATE TREATY

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1 Suite 8, Rectory House Thame Road, Haddenham Buckinghamshire HP17 8DA Tel: Fax: John Clegg & Co CHARTERED SURVEYORS & FORESTRY AGENTS Corris Uchaf, near Dolgellau, Gwynedd 68.4 Hectares / Acres Situated amongst the stunning scenery of southern Snowdonia, Tyn y Llechwedd is stocked with Sitka spruce now almost 40 years old, and with nearly all of the infrastructure work completed to allow harvesting at maturity. Crops are growing well and should satisfy any investor looking for the tax advantages of owning commercial woodland as well as appreciable capital growth. FREEHOLD FOR SALE BY PRIVATE TREATY

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3 Dolgellau 7 miles Machynlleth 8 miles Newtown 35 miles Shrewsbury 58 miles (all distances are approximate) DIRECTIONS From Machynlleth take the A487 north towards Dolgellau. Pass through Corris and then Upper Corris. Leave Upper Corris travelling up hill and pass the Tyn y Berth Bunkhouse which is prominent on the left just before the national speed limit signs. Proceed for another 300 yards towards the road s summit. The woodland entrance is on the right shared with the entrance to a smallholding, point A on the sale plan. Pass through the gate and then take the first track on the left, point B, after 25 yards. Pass through the next gate and on up the hill. Enter Tyn y Llechwedd at the next gate which bears a John Clegg & Co For Sale board, point C on the sale plan. The other right of way is reached by proceeding along the main forest road into the neighbouring property for about 1 mile. A small John Clegg & Co finger board has been erected at point E to direct viewers on to the track over which there is a right of way. OS 1:50,000 Map 124 Ref SH Nearest post code SY20 9RH. VIEWING Viewing is possible without appointment at any time during daylight hours so long as prospective purchasers are in possession of a set of these sale particulars. Please be aware of hazards within the woodland when viewing. Please ensure all gates are left closed at all times. DESCRIPTION Tyn y Lechwedd enjoys a fine location close to the south eastern boundary of the Snowdonia National Park. The woodland occupies a site, with principally southerly and south westerly aspects, rising from about 650 feet on its western boundary to about 1650 feet above sea level. Soils are a mixture of mineral soils with a thin peaty layer on the lower slope with an increasing proportion of peaty gleys as you move upwards. Soils, together with the woodland s location high up in the hills surrounding Cader Idris, combine to offer a site eminently suitable for growth of the principal species, Sitka spruce. The underlying shales have made excellent roading material for use in creating tracks. The property was originally established in 1974 and 1975 with Sitka spruce on the upper two thirds of the property and a mixture of larch, Sitka spruce and Douglas fir on the lower third. After a typically slow and difficult start all of the crops are developing well with nearly all areas showing good leader growth over the last decade. Indeed, since we last saw the property in 2001 the woodland has greatly improved as the Sitka spruce has gained momentum. Previously the property was covered by a Better Woods for Wales (BWW) management plan from which grants were paid to construct a series of forest roads/access tracks aimed at allowing harvesting access provided the areas on the lower slopes were thinned to start the process of continuous cover conversion. All of this work is now complete and most of the larch on the lower slopes (compartments 1 and 2) plus several areas of Sitka spruce (compartment 3) higher up the slope have been selectively line thinned. Purchasers may be interested to see an aerial photograph showing the wood just after thinning was completed at the website On the UK map which appears navigate down to Corris and Corris Uchaf. Switch to aerial view and use the zoom function to locate the woodland. The high winds of February 2014 caused some windblow damage on the lower slopes. This provides a new owner with the opportunity to continue the process of establishing the next generation of productive spruce or Douglas fir (with grant contribution from Glastir) in the area of the woodland best served by access tracks. STOCKING SCHEDULE Cpt. Area P. Year Principal Species (ha.) Sitka spruce Douglas fir Japanese larch Lodgepole pine Sitka spruce Norway spruce Japanese larch Douglas fir Sitka spruce Unplanted Sitka spruce Unplanted Total hectares

4 MANAGEMENT The woodland is currently managed by UPM Tilhill, Pale Estate Office, Llanderfel, Bala, Gwynedd LL23 7PS, telephone Their Mr Simon Graham will be pleased to discuss future management with prospective purchasers. TAXATION After two years ownership, commercially managed woods qualify for 100% relief from Inheritance Tax. Timber sales are free of all Income Tax and do not attract Capital Gains Tax. In certain circumstances it is possible to roll-over Capital Gains into the proportion of the purchase price attributable to the value of the land. SPORTING RIGHTS The sporting rights are owned and included in the sale. They are not let. MINERAL RIGHTS These are owned and included in the sale except as reserved by statute. FENCING The woodland owner is technically responsible for the maintenance of stock proof fencing along the eastern boundary of compartment 4, and the adjoining owner is responsible for the maintenance of a stock proof fence along the southern boundary of compartment 4 and the eastern boundary of compartment 3 where it adjoins his land. However, the adjoining property has now been afforested and the existing boundary is adequate for boundary demarcation. RIGHTS AND EASEMENTS The woodland is sold subject to and with the benefit of all rights, including rights of way, whether public or private, light, support, drainage, water, gas and electricity supplies and any other easements. WAYLEAVES The woodland is sold subject to all existing wayleaves and purchasers will be deemed to have satisfied themselves as to the routes thereof. PLANS AND AREAS These are based on the Ordnance Survey and are for reference only. The purchaser shall be deemed to have satisfied himself as to their accuracy and any error or mis-statement shall not annul the sale or entitle any party to compensation in respect thereof. TENURE AND POSSESSION Freehold. Vacant possession will be given on completion. METHOD OF SALE Tyn y Llechwedd is offered for sale by Private Treaty. Prospective purchasers should register their interest with the Selling Agents to whom offers should be submitted. Please contact our Haddenham office on OFFERS AROUND 450,000 ARE INVITED RIGHTS OF WAY It is understood the woodland owner has a full right of way for all purposes over the routes ABC and DEF on the sale plan. These routes are shared with a neighbouring owner and are all made up to a reasonable forest road specification. There is a further right to extract timber over the route marked GH on the sale plan. The wood is sold subject to a right of way in favour of several adjoining land owners over the route CD. IMPORTANT NOTICE John Clegg & Co LLP for themselves and for the vendors of this property, whose agents they are, give notice that: (1) These particulars do not constitute nor constitute any part of an offer of a contract (2) All statements contained in these particulars as to the property are made without responsibility on the part of John Clegg & Co LLP or the vendor. (3) None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. (4) Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. (5) The vendor does not make or give, and neither John Clegg & Co LLP nor any person in their employment has any authority to make or give any representation or warranty in relation to this property. Particulars prepared August John Clegg & Co LLP is a limited liability partnership registered in Scotland (No. SO302718) whose registered office is at 2 Rutland Square, Edinburgh, EH12AS.

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6 Not To Scale Suite 8, Rectory House Thame Road Haddenham, Bucks HP17 8DA This plan is only for the guidance of intending purchasers. Although believed to be correct, its accuracy is not guaranteed and does not form part of any contract. Reproduced by permission of Ordnance Survey on behalf of the Controller of HerMajesty'sStationaryOffice, Crown Copyright. Allrightsreserved. Licence No ProducedbyPearTechnologyServicesLtd. N John Clegg & Co CHARTERED SURVEYORS & FORESTRY AGENTS England: Scotland: Wales: