• GSC Grays case study

  • GSC Grays

    We successfully recovered seven years of rent underpayments for five landowners.

    Client

     

    GSC Grays land agents

    Summary 

    The situation

    The landowners had been receiving royalty payments from the wind farm since its commissioning date, but they suspected something was slightly amiss. GSC Grays were not involved with the day-to-day management of the land rent payments and recommended our team to verify whether these payments were fully accurate.

    Our approach

    Using a wide range of metrics, current legislation and today’s market prices, we independently re-calculated all past payments and thoroughly reviewed the landowner’s lease agreements. Our expertise and industry experience enabled us to immediately spot an error in the rent calculations. We worked in partnership with the site operator, on the landowners’ behalf, to verify and fully correct the past under-payments and helped to prevent this problem re-occurring.

    Due to the complexity of wind farm leases, energy prices and their dependence on Power Purchase Agreements (which are not available to landowners), even the most experienced in-house legal and accounts teams may not have identified these underpayments. However, we worked closely with the energy company to help them identify and correct the errors.

    We found the report very thorough and really interesting and were pleased that the payments have been corrected and appreciate your help with this very much.” 

    -David, wind farm landowner

    Results

    • Successfully identified and agreed with the site operator the correction of the past underpayments over a 7 year period
    • Worked in partnership with GSC Grays, adding value to them and our mutual landowner clients at no cost to either party, as well as saving them time
    • Delivered a detailed audit report on the wind farm’s performance, including its efficiency and how many homes the site has powered to date
    • Our report also evaluated how these lease agreements compared to other UK wind farms, highlighting the real value that our partners and their landowners are making to the environment
    • Worked independently, saving our partners time and costs, whilst achieving the best outcome

    Prior to the review I had a good understanding of the rent methodology but could never undertake an audit to the same extent as AfE. We had been asked by landowners to review their rent payments, but as Land Agents we’re not qualified to undertake a full audit. We’ve been very pleased to recommend AfE to all our clients and have received positive feedback all round. I have received nothing but positive feedback from the landowners.”

    -Chris Thyer MRICS FAAV, Land agent, GSC Grays

    It was great working in collaboration with GSC Grays. To find out more about their work, click the icons below:


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