Grianan Estate farm sells for €17.425m
One of Europe's largest organic farms - the Grianan Estate in Donegal - has been sold by the Donegal Investment Group to Glenmore Estate Farms Ltd for €17.425m.
The sale generated significant interest from both local and international investors, and from farmers and farming companies, according to Pat O'Hagan of Savills, who handled the transaction on behalf of the vendors.
"No other opportunity of this scale is likely to be presented again in the Irish farming property market, therefore it was no surprise that interest - from various buyer types - was strong," Mr O'Hagan said.
Located at Speenoge, Burt, Co. Donegal - less than 20 minutes from town of Letterkenny - the Grianan Estate extends to 2,400 acres, consisting mainly of land reclaimed from Lough Swilly, making it particularly fertile and suitable for all farming enterprises.
It includes 1,290 acres of organically farmed prime land and grows a range of crops such as cereals, red clover and root crops. There is also an extensive range of farm buildings which have overwintering accommodation for 400 head of cattle. For the past 10 years, the farm has been producing more than 3,000 tonnes of organic produce per annum including milk, vegetables and cereals. Various Irish household brands are sourced from the farm.
The estate also includes a lake extending to 500 acres.