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How do you price up Sporting Rights?


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My mate has a farm on which he shoots pigeons and knocks around after rabbits and such like, he is interested in starting up a small syndicate shoot on the farm, with close friends and family as members and sharing the costs, the farmer is all for the idea but doesn't know what a fair price would be for the shooting rights.

So my questions are do you pay a price per acre or as a whole or what? Also is a gentlemans agreement enough or does it need to be made legal and binding?

And is there anything else he should look out for?

 

Cheers in advance

Edited by Netter
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