Farm Ireland

Saturday 20 January 2018

Forest deal ongoing

Negotiations are continuing for 367ac of forestry land in Kinnitty, Co Offaly, after it was withdrawn from auction.

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Bidding for the entire 367ac reached €875,000 on the day, but the property was withdrawn unsold.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