A 21-year old farmer has become the latest and youngest tenant of Maes y Pandy farm, a 1,200 acre farm in Abergynolwyn, after securing a six-figure finance package.
William L Jones, who has been farming since the age of five, won the five-year lease after beating stiff competition from a long list of applicants.
As well as paying the annual rental costs, the funding from HSBC has allowed him to purchase 800 breeding ewes, 250 lambs and 17 Welsh Black beef cows from the farm’s owner, plus the entitlements needed to secure government support payments.
Mr Jones said: “It has always been my ambition to run my own farm, so when the opportunity to become the new tenant farmer at Maes y Pandy came about,
“I jumped at the chance. HSBC has been incredibly supportive throughout the process and was quick to provide the funding I needed. I’m looking forward to continuing my relationship with the bank as I take further steps to grow the business over the next five years.”
Euryn Jones, Regional Agriculture Director at HSBC, said: “Despite only being 21, Wil is a very astute and mature young farmer with an impressive commercial approach to his business and we were very keen to support him in his bid to become the tenant at Maes y Pandy.
“His drive and ambition to make the farm a success is clear, and he will be able to draw on many years’ of experience from his family who are also farmers in the area.
”With the funding now in place, Wil can look forward to building the farming business and realise his dreams.”
Prior to taking the tenancy at Maes y Pandy farm, William spent four months on a farm in New Zealand to build on his experience and learn new farming techniques.
He was advised on the deal by Kite Consultancy, a specialist farming and agriculture consultancy.