A 700ac farm up for lease in Co Roscommon has attracted interest from the Middle East, Northern Ireland and Irish dairy processors, as well as expanding dairy farmers.

The farm at Laragan, Elphin, Co Roscommon, is being offered on a 20-year lease to include all the land, farm buildings and a two-storey traditional farmhouse.

Dairy consultant Mike Brady is handling the lease and told the Irish Farmers Journal that “all the usual heavy-hitters” in the dairy industry have made enquiries about the farm.

“We’ve had great interest so far,” said Brady. “We are expecting the first of the formal proposals later this week.”

Among the 30 serious enquiries have been a large number of expanding farmers who wish to add a second dairy unit to their existing businesses, and some who would be adding a third unit.

There have been number of interested parties from the Middle-East.

“Farm manager types who have their tax-free money made and want to come home,” remarked Brady.

He added that a few processors had been in contact, making a pitch for the milk that will eventually be supplied from the farm.

A number of farmers frustrated by their inability to expand on their current farm have looked at Laragan farm with a view to taking it on and leasing their own land out.

Several enquiries have been made about buying the farm outright but Brady said the owner, Marcus Hanly, one of the well-known family behind Hanly Quarries, is not interested in selling.

A handful of farmers from Northern Ireland, both beef and dairy, have made serious enquiries.

“I don’t know if there is a Brexit angle in it but they seem to want a leg in a farm down south,” said Brady. “I’ve never had a call in 30 years from someone up north wanting to invest down south.”

The vast majority of interest in the Roscommon farm is from outside the county.

Brady has set a price tag of €225/ac for the annual rent for the farm, to include all land, buildings and the house.

That would equate to an annual rent of €157,500 or €3.15m over 20 years.