Beyond agriculture: Alternative geographies of rural land investment and place effects across the United Kingdom

Article


Livingstone, N., Gallent, N., Hamiduddin, I., Juntti, M. and Stirling, P. 2021. Beyond agriculture: Alternative geographies of rural land investment and place effects across the United Kingdom. Land. 10 (11). https://doi.org/10.3390/land10111153
TypeArticle
TitleBeyond agriculture: Alternative geographies of rural land investment and place effects across the United Kingdom
AuthorsLivingstone, N., Gallent, N., Hamiduddin, I., Juntti, M. and Stirling, P.
Abstract

Global land ownership patterns have been shifting in recent decades, as institutional and non-traditional investors redirect capital into rural areas. Such investment is a stimulating alternative for innovative profit-driven land uses that move beyond agriculture. This paper explores how ‘new money’ economies have created place effects in three rural case studies across the United Kingdom, through concepts of built, natural, social, and economic capital. The case studies are informed by secondary research, site visits, and interviews, providing snapshots of investment impact. They represent diverse transformations in rural land use via new forms of direct investment, active investment, and processes of financing rather than financialisation, with distinct spatial and temporal characteristics. The case studies include new wine production in Kent, England; transforming the Menie Estate into Trump International Golf Links Scotland (TIGLS); and farm diversification in Northern Ireland. The conclusions tell three investment stories, where place effects reflect the dichotomies, contestation, and symbiosis between investors and local contexts. New land uses create place effects where economic potential often conflicts with natural capital impacts, although they foster knowledge creation and exchange. The underlying values of the investors and their navigation of local politics also have key roles to play in shaping the built, natural, social, and economic place effects.

Keywordsdirect active investment; rural land ; transformative uses; United Kingdom; financing diversification; place effects; capitals
Research GroupLaw and Politics
LanguageEnglish
PublisherMDPI
JournalLand
ISSN2073-445X
Publication dates
Online29 Oct 2021
PrintNov 2021
Publication process dates
Deposited29 Oct 2021
Accepted25 Oct 2021
Output statusPublished
Publisher's version
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Copyright Statement

© 2021 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).

Web address (URL)https://www.mdpi.com/2073-445X/10/11/1153
Digital Object Identifier (DOI)https://doi.org/10.3390/land10111153
Web of Science identifierWOS:000723305600001
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