Request:
1. Full copies of the independent valuations you have referred to—particularly the details of the approach(es)/underlying assumptions on which the valuations were based.
2. Which rural valuers undertook the valuations
3. Whether the resulting estimates are a matter of Public record4.obtaining a copy of the CES document(s) that details the various 'social, economic and wider value considerations' that led to the CES's decision not to go to the public (Global) market.
Response:
1. The two valuations conducted by Strutt & Parker and Bidwells is withheld under EIRs exception 10(5)(e) – confidentiality of commercial or industrial information. The valuations have a legally binding duty of confidence and the parties who have conducted the valuations have not given us permission to disclose this information. Taking into consideration the current situation, where these valuations will be used and based on sale negotiations, it would likely cause substantial harm in our economic interest in getting best value for this sale if such information were made public.
2. The valuators who were contracted out to undertake the valuations were: Strutt & Parker in 2018 and Bidwells in 2020.
3. The resulting estimates are not a matter of public record at this point in time.
4. Enclosed are a series of board papers and minutes during the decision making process for the sale of the Spey River fishings. The table below lists out the documents disclosed and the exceptions applied. The redactions in ‘red’ denotes personal information as defined in UK General Data Protection Regulations and disclosing this information would breach the first two principals. Therefore, EIRs exception 11(2) – personal information, is applied.The redactions in ‘blue’ fall under EIRs exception 10(5)(e) – confidentiality of commercial or industrial information. This information relates to the valuation reports which have a legally binding duty of confidence and we do not have permission to disclose. As stated in item 1, it is in the interest to keep this information confidential while sale negotiations are still underway, as it will likely harm our economic interest if this information were made public in the case the sale falls through.The redactions in ‘green’ fall under EIRs exception 10(5)(d) confidentially of proceedings. This information is specific to the terms and information that is contained in a current Non-Disclosure Agreement. Breaching such terms would lead to legal challenges and likely cause the sale negotiations to cease and create challenges for future negotiations if Crown Estate Scotland is seen to not abide by statutory provisions. Though the Non-Disclosure Agreement prevents us from disclosing details of any negotiations, agreements and parties involved; Crown Estate Scotland has considered the effect on employment for all the considered options with the sale of the Spey River Fishings.
| Document name | Date of document | Description |
| 1. IC Spey Fishings Paper_Redacted.pdf | 18/12/2017 |
Investment Committee paper Annex A: Plan of Fishings Annex B: Location of Plan |
| 2. IC(2018)5 Spey Fishings Paper_Redacted.pdf | 06/03/2018 |
Investment Committee paper Annex A: Plan of Fishings (can be found in 1. IC Spey Fishings Paper) Annex B: Location of Plan (can be found in 1. IC Spey Fishings Paper) Annex C: Strutt and Parker – Valuation (withheld – see item 1 in our response for exception) |
| 3. BD(2018)06 Spey Fishings Paper_Redacted.pdf | 28/03/2018 |
Board paper Annex A: Plan of Fishings (can be found in 1. IC Spey Fishings Paper) Annex B: Location of Plan (can be found in 1. IC Spey Fishings Paper) Annex C: Strutt and Parker –Valuation (withheld – see item 1 in our response for exception) |
| 4. BD(2018)e1 Fishings on Spey_Redacted.pd | 10/12/2018 |
Annex A: Board Paper BD(2018)6.6 (refer to 3. BD(2018)06 Spey Fishings Paper document) |
| 5. Proposed sale of fishing rights_Redacted.pdf | 5/11/2019 |
Investment Committee paper Annex C: Agreed HoTs for principal sale – withholding under exception 10(5)(e) Annex D: Proposed revised HoTs for principal sale -withholding under exception 10(5)(e) |
| 6. IC(2020)OOC1 Spey Fishings_Redacted.pdf | 9/01/2020 |
Investment Committee paper Annex A: Options Appraisal (see 6a. IC(2020)OOC1 Spey Fishings Annex A_Redacted.pdf document) Annex B: Jan 2020 Valuation – withheld see item 1 in our response for exception |
| 6a. IC(2020)OOC1 Spey Fishings Annex A_Redacted.pdf | 9/01/2020 | Annex A to 6. IC(2020)OOC1 Spey Fishings_Redacted.pdf document (paper IC(2020)OOC1 |
| 7. OOM1 Spey Fishings_Redacted.pdf | 15/01/2020 |
Board Paper Annex A: Note of Investment Committeediscussion 10 January 2020 (see 7a. OOM1 Spey Fishings Annex A_Redacted.pdf document) Annex B: Options Appraisal (see 6a. IC(2020)OOC1 Spey Fishings Annex A_Redacted.pdf document) |
| 7a. OOM1 Spey Fishings Annex A_Redacted.pdf | 10/01/2020 | Note of conference call–Investment Committee |
| Extracts from Investment Committee and Board meetings re sale of fishing_Redacted.pdf |
18/12/2017 6/03/2018 28/03/2018 5/11/2019 |
Extracts of the minutes taken from a series of Investment Committee and Board meetings. |
