REA McCarrick & Sons report a good year
CO. SLIGO Auctioneering Firm, REA McCarrick & Sons with office in Sligo and Tubbercurry report a good year in 2019 despite the many difficulties encountered by farmers throughout the year. Farm prices were at the root of many of the farmers problems as a combination of Brexit fears and poor beef prices made product prices stay on the floor for much of the year. Dairy farmers did experience a reasonable year as milk prices stayed stable at a little over 30 cent per gallon. However, the beef, suckler and sheep farmers who make up much of the farm numbers in Co. Sligo were left wondering how much longer they can keep farming and keep taking poor prices.
However, despite the doom and gloom of farm prices, there is still a trickle of young farmers coming into the business each year who want to purchase or lease farms that come to the market for sale or lease.
Firm principal, Roger McCarrick is very anxious to speak to land owners who are considering retiring. “Retirement from farming is a major decision for any land owner, especially if they do not have immediate family prepared to take over the reins, or not ready to take the reins. Leasing a farm for a number of years is a good first step option before any long term decisions are made concerning farm sale” stated Mr. McCarrick.
Land leasing is a very viable option, even for long term owners, as there are always tenants willing and able to farm the land. “Long term leases are tax free for the land owner” explains Mr. McCarrick. Land leases over 5 years gives security of tenure to both tenant and owner, and a tenant can look after the land happy in the knowledge that improvements done on the farm by the tenant will help the tenant. Rental values vary, depending on the quality, location and facilities of the farm, including, pens, crushes and sheds. “An average value of good land for a long term lease is between €100 - €150 per acre per annum” continued Mr. McCarrick.
Sales were sluggish throughout 2019 as a result of the Brexit fears and beef sale problems. As a result forestry investors are coming into the market in Co. Sligo where they can purchase average quality land in blocks of over 20 acres at an average price of €4,000 per acre. However, Mr. McCarrick points out that good quality farm land is always in demand and this can realise anything from €5k - €10k per acres, depending on location, quality, demand and other alternative qualities. REA McCarrick & Sons continually require farms of all sizes on their books to replace those sold throughout last year. Further information can be got from Roger McCarrick on 071 9185050.
REA McCarrick & Sons are Department of Agriculture Designated Facilitators for the sale and lease of Farm Entitlements nationwide. Trading in the sale and lease of entitlements will soon commence, and farmers wanting to either lease/purchase in units or lease/sell out units are advised to contact the agents to commence arrangements. REA McCarrick & Sons looks after all the paperwork and liaise with the Dept. of Agriculture and your farm advisor to complete transaction. Contact REA McCarrick & Sons on 071 9185050.
Many farmers planted blocks of forestry 15 – 20 years ago which are no longer drawing the forestry premiums. The blocks of forestry may still have another 10 – 15 years to go before they can be felled for timber and some farmers might like to sell the forestry to put children through college, do home/farm improvements or generally take life easier! Roger McCarrick, has various contacts in the forestry investment works who are interested in purchasing these blocks of timber from 20 acres upwards.
If you have growing timber and are interested in selling, please make contact with
REA McCarrick & Sons on 071 9185050 or email info@ reamccarrick.ie