Farm Ireland

Sunday 4 December 2016

Forest deal ongoing

Published 20/04/2010 | 05:00

Negotiations are continuing for 367ac of forestry land in Kinnitty, Co Offaly, after it was withdrawn from auction.

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Substantial forestry premia worth €69,000 a year were a significant factor in drawing a large crowd to the auction.

The forestry was offered in two lots, and in its entirety.

Lot one was a 140ac block of forestry land with eight years of premium payment left, worth €28,000/yr. Bidding on this lot went to €420,000.

Lot two was a 227ac block of forestry with five years of premium payments left, worth €41,000/yr. Bidding reached €550,000 on this lot.

Bidding for the entire 367ac reached €875,000 on the day, but the property was withdrawn unsold.

Contact Clement Herron Real Estate on 057 866 6344

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