Farm Ireland

Wednesday 25 April 2018

Quirky quota deal to turn heads

Jim O'Brien

Jim O'Brien

Following the changing of the rules on the resale of land that was recently bought with quota attached, a Co Wexford farmer is offering a unique incentive as part of his 52ac non-residential holding and its 35,000ga milk quota.

With an eye to potential buyers whose main preoccupation is the quota, the vendor is willing to rent the ground from the new owner after the sale.

The property, at Knocktown, Rathangan, Co Wexford, is to be sold by public auction at the end of the month.

Selling agent Keane Auctioneers is guiding the property at €8,500-10,000/ac.

While milk quota has added a significant premium to land sales over the past 12 months, this offering will test the impact of the new laws on what farmers are prepared to pay for quota. Previously it was estimated to be making about 53c per litre.

There are no buildings with the lands that are situated 20 minutes from Wexford and close to Kilmore Quay and Wellingtonbridge. According to auctioneer John Keane, the ground is in good heart and suitable for any type of farming.

It is well fenced and comes with its own natural water supply delivered by a river that runs through the property.

The various divisions enjoy good road frontage, making the farm easily accessible from a number of points and holding out the possibility of building a dwelling or a farmyard on the land with the requisite planning permission.

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In another unusual touch, the farm can be bought in lots with specific quota available with each lot. The first lot comprising just over 20ac comes with a 13,903ga milk quota, lot two with 13ac has 8,879ga of quota while lot three, 18ac, comes with a 12,218ga quota. The entire, 52ac with the full quota of 35,000ga, makes up lot four.

Like most farms that come on the market with quota, interest in this property is coming from far and near and a lively sale is expected.

The farm will be sold at public auction at the Talbot Hotel, Wexford, at 3pm on Friday, October 28

Indo Farming