Farm business with REA McCarrick &Sons

CO. SLIGO based Auctioneers REA McCarrick & Sons report a very good year in land sales during 2017. Over the course of 2017, Firm Principal, Roger McCarrick handled the sale of nearly 30 land parcels of varying sizes throughout Co. Sligo, a large increase in numbers from previous years.

Despite the challenges of low farm incomes, investment in land is still seen as an attractive option, both for land owners already in the farming business and for non-land owners who see farming as a life style choice. Obviously, off-farm incomes are needed in all cases to facilitate farm purchasers as on-farm income continues to be low.

Land sale values vary a lot, depending on location, local and outside demand, quality of the land, farm entitlements attached to land, presence of buildings and fencing.

Sometimes local demand can drive up prices, but Mr. McCarrick sold a number of farms to purchasers in 2017 to people coming from Great Britain, Australia, Canada, and even Irish people returning from work campaigns in the Middle East.

After their upcoming property exhibition in New York in a few weeks’ time, Mr. McCarrick expects a lot of enquiries for land and small holdings to come from Irish people living near the East Coast of the USA.

Land rental is in strong demand and REA McCarrick & Sons has a large number of clients on their books looking for small and medium sized farms to rent. Anything from 10 -100 acres of varying qualities will be considered and preferably for 5+ year leases. This is an attractive option for land owners who are thinking of retiring, but do not want to make a definite decision just yet about selling. Rental incomes from 5 year leases are tax free which makes it more attractive. Further details from REA McCarrick & Sons on 071 9185050

The sale and lease of E.U. Entitlements attached to land is set to commence shortly and REA McCarrick & Sons has a large number of farmers looking either to lease in or purchase E.U. Entitlements. For those that own extra entitlements over and above what they can claim on, it is important they are used, as otherwise they will be lost to the National Reserve. Contact us for further details.

The long and severe winter and its associated fodder shortage is taking a toll on farming, but once the days lengthen again, it will hopefully be business as usual.

If you wish to discuss any aspect of farming with the experts, please contact Roger McCarrick. Ph: 087-6810848 for a non-committal and frank discussion.