Land leasing market is hotting up
Published 02/12/2015 | 02:30
The land-letting scene for 2016 is hotting up already and the market is by no means steady or predictable. Prices are varying widely from €420/ac for vegetable land in the midlands to €120/ac in the mid west for grazing or fodder ground.
Laois auctioneer William Mansfield says that lettings are busy with a mix of long term and shorter-term arrangements.
"I'm seeing prices of €270 to €280/ac being paid on five year leases of grazing ground with a review built in during the third year," Mr Mansfield said.
While €180 to €200 is generally paid for conacre wheat ground he has negotiated around €210/ac for conacre land for winter wheat.
In some headline prices, the Rathdowney auctioneer recently concluded three-year leases for carrot growing ground with prices from from €400 to €420/ac.
"Of course the lease had to be three year with corn planted on the particular ground at either side of the carrot growing year. The lease for the corn was €180 to €200/ac," he explained.
In one particularly lucrative lease in the Mansfield portfolio, a dairy farmer is paying €300/ac for grazing and fodder ground.
Under the terms of some long-term leases Mr Mansfiled has seen dairy ground let for between €270 and €280/ac.