Great Glen Crematorium, Leicestershire

At Great Glen, the Co-op owned 30 acres of agricultural land adjacent to the Great Glen settlement boundary with main road frontage. Detailed planning consent was granted on appeal for a crematorium, cemetery and natural burial ground. An Agreement for Lease was completed with leading crematorium operator Westerleigh to construct at their cost, the crematorium. On practical completion, Westerleigh completed a 99 year lease subject to an annual RPI linked ground rent plus turnover rent. The valuation gain on the ground rent element alone, net of planning and site costs was £1.5m before the site became operational and turnover rent kicks in.