A 20-year lease of a 700ac farm in Co Roscommon is expected to be agreed this week.

The farm at Laragan, Elphin, is owned by Marcus Hanly and has a price tag of €225/ac in annual rent for the land, buildings and the house. That would equate to €3.15m in rent over 20 years.

Agent Mike Brady told the Irish Farmers Journal that he expects a verbal agreement to be in place this week, with legal documents to follow.

There are six parties who have tendered for the farm and met the key criteria of having experience of milking over 500 cows, accounts to back that up and meeting the rental price.

All six interested parties have existing dairy herds in Ireland and are “all well-known”, according to Brady.

Brady said that he has been approached by other landowners interested in long-term leases, offering farms ranging from a 150ac grazing block to a tillage farm of over 600ac.

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Watch: exclusive footage of the 700-acre farm in Co Roscommon

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