Farm Ireland
Independent.ie

Friday 2 December 2016

Private is the way forward for sales

Jim O'Brien

Published 14/09/2010 | 05:00

"Compared to the rest of the economy, farming is holding up and the sales of land are holding up." This was the candid assessment of the market by Sligo auctioneer, Roger McCarrick.

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"I sold about a half dozen parcels of land in the spring and I have about a half dozen properties in private treaty negotiation at the moment," he explained.

Roger attributed the relatively steady trade in land to the fact that it hasn't been a bad year in farming.

"While dairy and tillage have been doing well we wouldn't have too much of either around here. The sheep sector is doing alright and perhaps that is helping us."

Typical of the property Roger has under negotiation is a top quality 72ac farm in the Screen area of Co Sligo. He is also negotiating the sale of a 32ac holding near Gurteen in the south of the county, 10ac near Tubbercurry and 25ac in Tourlistrane.

"All these pieces are in negotiation and it's a very slow process compared to what it was a few years ago," added Roger.

Deals

"I don't expect some of these deals to be concluded before November, but these are the times we live in; things are moving at a different pace now."

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Interestingly, Roger has had no auction this year.

"Given the way the banks are, auctions are going to be less frequent. If a property goes to auction and isn't bought for one reason or another it can be very hard to sell afterwards. Private negotiation seems to be the best way at the moment."

Irish Independent



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