Buyers from Ireland queuing up for county land deals
Last updated 19:35, Thursday, 01 May 2008
IRISH buyers are queuing up to buy farmland in Cumbria, according to Carlisle land agent H&H Bowe.
Farms of more than 200 acres are the main target for these buyers, who ideally want dairy units of 300 to 500 acres, mixed livestock units of 300 to 400 acres, mixed arable and livestock units of 1,000 acres and arable units of 2,000 acres.
During a visit to Northern Ireland recently, staff signed up 30 active buyers for regular updates on land for sale in the area.
Some farmers are even retiring early because of the high prices. An anonymous buyer from Tyrone in Northern Ireland outbid all local farmers to secure the 327-acre Lees Hill Farm for £1.26 million last year.
Andy Dyer, from H&H Bowe, said: “Already we have sold properties for people who are some years off retirement age and they have rapidly discovered there is a life after farming.
“Cashing in their farm can bring a whole new set of advantages such as enabling financial investments to be made for children or grandchildren, tax savings from roll-over relief and numerous other benefits on which we can offer advice.
“The skills acquired to farm, such as management, animal health and welfare knowledge and the total work ethic, are also appreciated by employers should they want to find work.”
Initially, interest from Irish buyers was for dairy/livestock units of around 200 acres in south west Scotland. Now the interest is for farms of all sizes, preferably 200 acres-plus, as they seek larger ring-fenced units in England and Scotland, in all areas and of all types.
