Cotswolds farm creates income from AMC loan and Defra grant
Location, environment and demand are first and foremost in any diversification plan. The Mill Pool coarse fishing lake meets all three criteria and allowed Phillip Hinds to create a new income stream from an existing water course.
AMC customer Phillip farms 100 acres at Sheepscombe, on the edge of the picturesque Cotswolds village of Painswick. He sold his suckler herd in 2005 and, whilst still farming suckler beef and barley bull beef on a smaller scale, he is now fulfilling an ambition to do more with his own scenic setting and develop a second income from his land.
Beech Farm is situated between two fresh water springs and offered the perfect environment for a coarse fishing lake. With a shortage of fishing lakes in the local area Phillip had long felt that exploiting demand in the local angling community was potential development opportunity. He was able to do so in 2005 when he realised that he qualified for a Defra Rural Enterprise Scheme grant which could help fund the project.
“With a beautiful setting, our farm was crying out for a diversification project. A fishing lake seemed to be the best way forward. The opportunity to apply for funding was really the turning point in getting this project off the ground. I quickly obtained planning permission and with the help of Ben Knight of local land agents, Humberts, we made a successful grant application.
“The total cost of the project was £107,000 and the grant has funded 50% of these costs, the other 50% has been financed by AMC. I have been a customer of AMC for many years and have worked closely with both my local AMC Agent, Roger Bush of Bruton Knowles, and with Martin Waite, my local AMC Regional Agricultural Manager,” said Phillip.
Most of the project costs (80%) have gone on construction. The original lake has been enlarged on two sides, a new dam built, as well as a feature waterfall. A new timber clubhouse has been added boasting 15ft of decking to allow full disabled access, and a new access road and parking spaces have been created. The remaining 20% of the project budget was used to stock the lake mainly with carp and bream. It took a year for the lake to settle and Mill Pool was officially opened in August 2006.
“We have been very pleased with the initial response, 500 anglers visited the lake and used the facilities in 2006. For a project such as this it is all about ‘word of mouth’ and it takes time to build up a client base. Customers can pre-book day tickets and we are actively building up the corporate side of the business. Defra held an event at the lake in August. The profits are being ploughed back in. We spent a further £4,000 in October to restock the lake, this time adding roach and chub” said Phillip.
Martin Waite, AMC Regional Agricultural Manager for South Wales and the South Midlands has been closely involved in this project from the start. “Phillip did his homework. He had thought about the project for some time, researched his market and has taken advantage of additional funds. He has made excellent use of his own natural resources and should over time see the financial benefits,” he said.