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29 May 2022

Record price for mixed farm in Carrick-on-Shannon

Record price for mixed farm in Carrick-on-Shannon

The guide price was €215,000, it sold for €303,000

REA Brady in Carrick on Shannon have got the year off to a strong start with their excellent result for a mixed property at Emlagh, Carrick on Shannon, Co. Roscommon.

The holding had a total of 46 acres in one block, 39 of which was forested and yielding premium and c.7 acres of which was green land with some sheds and livestock handling facilities. The guide price was €215,000, it sold for €303,000.

Joe Brady reports that interest came from far and wide with over 70% of the interest coming from outside the local area. Forestry buyers dominated for what was mostly a forestry asset. Brady’s had a lot of interest for this property and fielded over 20 enquires.

In the end 6 buyers registered to bid by online auction. There were 50 bids on the property. It started quickly with an opening bid of €235,000 moving quickly to €250,000 within the first 7 minutes. Of the 6 registered bidders, 4 participated in the bidding with all 4 bidding over €250,000 (€5163 per acre). In the end it came down to two, the final price equating to €6183 per acre.

One of the main attractions was that the planted portion of this land (planted in 2013 on a 20 year farmer scheme) had the remainder term of payments there to benefit qualifying buyers. Also, the forestry crop was in good condition.

Joe Brady notes that this sale is a bellwether for income generating agricultural assets. He notes that he has at least 5 buyers who were ready to go today with ample funding and who were not successful. He is eager to take on similar farms over the coming weeks. Joe can be reached on 071 96 22444 or joe@reabrady.ie

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