Rural property management: HS2, staff shortages and going digital

From staff shortages to setting up cloud computing systems, from getting the compensation you deserve to cutting your energy bills, read on to discover some of the areas relating to People, Planet and Profit where we have been helping our clients recently.

HS2 - get what you deserve 

HS2’s powers to permanently acquire land expired in February, and because their design is behind schedule they took the decision to acquire most of the land due to be used only on a temporary basis, with the idea of offering it back to landowners at a later date. This is keeping us very busy compiling compensation claims and throwing up quite a few complications regarding matters such as loss of access.

The biggest challenge, though, is getting HS2 to accept “injurious affection”, or the loss in value to retained property. Knight Frank is, I believe, leading the way in persuading them to make payments, helped by our market-leading geospatial systems and information we have obtained via freedom of information requests. Negotiations may be technically complicated and often frustrating, but there is great satisfaction in obtaining the compensation that our clients deserve.

Jonathan Scott-Smith, compulsory purchase & compensation

Staff shortages – don't get caught out

The UK’s jobless rate averaged 3.8% during the first quarter of 2022, the lowest level since the onset of the pandemic, according to official figures. Employers are clearly struggling with the shortage of workers and vacancies hit 1.3 million in the first quarter.

Many of our clients are grappling with staffing issues. Circumventing shortages requires creative thinking and a little extra rigour. Through proper vetting and thorough interviewing, we are able to look beyond staff with, say, the required number of years’ experience. This can feel like a compromise at the outset, but we are finding the right people when it matters the most.

Knight Frank can take care of shortlists and sit in on interviews before executing the contracts, tax and payroll. The process doesn’t end once the contracts are signed either. Staff retention is paramount, and we see our role as a vital bridge between employers and employees, deepening connections and resolving issues with regular communication.

Katharine Beswick, rural asset management

Cloud control – going digital 

Rural businesses have a reputation for tradition, passing farming techniques from generation to generation. In most cases, that’s something to treasure – but not when it comes to accounting.

Many property owners are in the process of digitising and automating their accounts, but Brexit and the resulting squeeze on incomes has made the process more urgent than ever.

Knight Frank’s Rural Client Finance team provides a fully bespoke accounting and bookkeeping solution to our clients by providing a tailored finance function to estates and their businesses, to suit their needs. We’ve been prioritising introducing clients to new cloud software including Xero, which provides unrivalled transparency into the inner workings of any rural business.

Having everything digitised, in a single place, enables clients to make business decisions from a much stronger position. There are tailored solutions depending on the business needs. If digitisation is something you’ve been considering, let us walk you through the process.

Elin Jones, rural client finance