Farm Ireland
Independent.ie

Saturday 26 May 2018

Forestry portfolio of 366ac in Donegal

Jim O'Brien

Jim O'Brien

There is strong evidence that farmland continues to be seen as a good investment by people with cash to spend.

Along with farmland, forestry is regarded as a sustainable investment; some would say it is an investment in sustainability.

A 366ac forestry portfolio scattered throughout Donegal with one portion near the Sligo/Donegal border should prove attractive to investors.

According to Paul Lafferty of Forestsales.ie, the land was planted between 1996 and 2006 and is made up of a combination of Sitka spruce and lodgepole pine yielding an estimated gross farmer rate premium of €143,000 per annum.

Mr Lafferty is guiding the sale of the entire portfolio in excess of €288,000.

The first parcel is a 35ac plantation located in north Sligo, which fronts on to the N15 between Grange and Bundoran. This crop is made up of Sitka spruce and is ready for thinning.

The next plantation extends to 47ac and is located on the roadside at Ballinacarrick, near Lough Derg, not far from Pettigo and the timber is a combination of Sitka spruce and lodgepole pine. An 88ac plantation with no direct road frontage is located at Carrickmahon, near Ballybofey, and combines Sitka Spruce and lodgepole pine.

The three last pieces are again a mixture of Sitka and lodgepole, with 66ac located at Loughmuck, near Finntown, while not far away is a 91ac plantation at Cummerick, outside Finntown on the Letterkenny road. The final 47ac block is located at Boyoughter, near Lettermacward.

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According to Mr Lafferty, some of the plantations need work and maintenance. While there may be some scope to sell the parcels separately, the preference is to sell as an entire.

The sale is being carried out on the instructions of the receiver Mr George Maloney of Baker Tilly Ryan Glennon.

Indo Farming