£500,000 tree discovered

12:05pm Tuesday 15th July 2008

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An oak tree in Weybridge has been valued at half a million pounds by Surrey County Council.

The tree was estimated to be 300 years old and is worth almost twice as much as a tree found in Southgate recently, which was declared to be London's most valuable.

The council's Asset Planning Group discovered the tree in a new system of valuing trees to prevent unnecessary destruction on grounds of building subsidence. Its exact location cannot be revealed for fear of vandalism.

David Munro, executive member for transport on the council, said: "We have some magnificent trees in our county, many with a long and interesting history, and we know how important they are to local people, both in terms of heritage and for the pleasure they give."

Councillor Graham Winton called into question the effectiveness of the valuation and said: "It is pointless to put values on trees. The only thing that will deter people cutting them down is a substantial rise in the fines they incur."

The valuation system, known as Cavat (capital asset value for amenity trees), takes into account the tree's size, health, historical significance and the number of people living nearby to enjoy it.

It is a simple process that can be carried out quickly so is now done as a matter of course on any tree that the council is inspecting. Local authorities nationwide will be also be adopting the system.

"We would not be surprised if we find a more valuable tree than the Weybridge oak. However, the monetary value of a tree is not the most important thing," said Mr Munro.

"The real value is its history and contribution to the environment and the amount of pleasure it gives our residents, which is considerable."

Do you know where the half million pound tree is? Is it outside your house? Contact lrobertson@london.newsquest.co.uk.