Blackfinch Group has acquired Harehope East Forest, a 136-hectare commercial forest near Peebles in the Scottish Borders.
Harehope East Forest is located around five miles north-west of Peebles and 21 miles south of Edinburgh. The site sits within a well-established commercial forestry area in south Scotland, with access to nearby timber processors and strong local demand for standing timber.
The forest is primarily planted with Sitka spruce, a productive species widely used in construction and packaging. It also includes Norway spruce, Scots pine and mixed broadleaves, giving the site a varied age profile. Around 20.56 hectares of mature Sitka spruce has approval for felling, offering the potential for near-term timber production.
The site also benefits from strong growing conditions, fertile and free-draining mineral soils, an established forest road network and its own quarry, which supports road maintenance and future forestry operations.
The acquisition follows Blackfinch’s first forestry purchase in Argyll and Bute and marks a further step in the Group’s long-term commitment to investing in high-quality commercial forestry. The purchase was made through Blackfinch’s forestry investment activities, which are funded by retail investors through the Blackfinch Adapt IHT Service.
Kerry Hughes, Investment Director for Energy and Forestry at Blackfinch, said: “Harehope East Forest is a high-quality commercial forestry asset in a strong location. It has the key features we look for, including good growing conditions, access to local timber markets and an established road network that supports efficient harvesting.
“This acquisition reflects our focus on investing in productive forestry assets that can support long-term outcomes for investors while contributing to the UK’s domestic timber supply.”
Sam Booth, Associate in Bidwells Forestry team, said: “We’re delighted to have supported Blackfinch on this acquisition, and to also be assisting with the strategic management of the asset. This is the second forestry acquisition our team have worked on with Blackfinch, and we look forward to continuing our partnership as they expand their UK portfolio.”
Landfor Chartered Land & Forestry, who handled the sale, said they were delighted with the outcome achieved for their client.
Timber has an important role to play in the UK’s transition to lower-carbon construction. The Government’s Timber in Construction Roadmap states that using timber as a construction material can reduce embodied emissions in a single building by 20% to 60%. It also highlights the scale of the opportunity, with only 9% of new build homes in England timber framed in 2019, compared with 92% in Scotland.
At the same time, long-term demand for timber is expected to rise. It is estimated that global demand for wood products will treble by 2050, increasing the need for productive, well-managed forestry assets that can support future supply.
Harehope East Forest is well placed to support this market. Its location, species mix, strong access, and approved mature timber, make it a strong addition to Blackfinch’s forestry portfolio and marks a further step in the Group’s plans to build a portfolio of high-quality UK commercial forestry assets.