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Negotiations are continuing for 367ac of forestry land in Kinnitty, Co Offaly, after it was withdrawn from auction.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Bidding for the entire 367ac reached €875,000 on the day, but the property was withdrawn unsold.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