Solid opportunity for investors to spruce up their forestry portfolio comes to market
Published 05/08/2014 | 00:00
A major sale of forestry property in the north west is expected to draw interest from a wide range of investors. The Dowra Forest Portfolio includes 270ac of commercial conifer forest plantations and 2.5ac of unplanted land. The portfolio includes products in five locations in counties Leitrim and Cavan all located within a radius of 10 miles.
Planted between 1994 and 2004 on enclosed land the timber is 90pc Sitka Spruce and commands a non-farmer premium of €28,653.14 to be drawn between 2015 to 2018.
Paul Lafferty of Forestsales.ie is selling the property by private treaty and is seeking offers in the region of €1m for the entire.
Set out in five lots the first lot includes 164.5ac of forestry and 2.5ac of unplanted ground located at Garvesk, Dowra.
Straddling the Cavan and Leitrim border, this fully enclosed forest was planted in 1995, 1996, 1999 and replanted in 2003. The timber is accessed by internal roads and is due for thinning in July 2014.
While the remaining lots are located in Co Leitrim, the nearest town is Dowra in Co Cavan.
Lot two extending to 41.74ac is located at Glenfarne. This was planted in 2004 on enclosed land with roadways constructed to provide access.
The third lot, also planted in 2004, extends to 25.8ac and is set on enclosed land at Gortnasillagh.
A parcel of 25ac at Drumrane was planted on enclosed land in 2003 and is set out in two plots of 20.87ac and 4.13ac. The last lot is located at Kilcoon and includes 15ac planted in 2003. This is set out in three plots of 9.18ac, 3.5ac and 2.34ac respectively with the latter plot comprised of ash.
Paul Lafferty says 90pc of the timber is comprised of high value, high yield Sitka Spruce with the remainder made up of required broadleaf content. The vendors are anxious to sell the entire as a unit and it is hoped that one customer will purchase all 270ac.
"This is an ideal investment opportunity for farmers or non farmers," he said. "There is an annual income of €28,653 and in the longer term the product is guaranteed to make a solid return. There is a lot of interest in the portfolio with many enquiries coming from north of the border."
Not far away in Runnaroddan, Stonepark, Co. Roscommon, auctioneer Thomas J Cox is selling a 33ac non residential farm by auction with a guide in excess of €200,000. Located three miles from Elphin the farm, which is the subject of an executor sale, is laid out in a number of large divisions and is well watered and well fenced. Described by Mr Cox as top quality ground that is renowned for fattening, the holding has attracted strong interest and will be sold by public auction this Wednesday, August 6 at 3pm at An Bothar Rua, Elphin.