With a solar project approved and a lease agreement already in place, this property will pay a new owner annual rent of approximately €1,100/ac for 30 years.
This is an attractive prospect for those seeking steady returns alongside land ownership.
The 43ac holding is for sale near Clonmel, Co Tipperary and the land is in the townlands of Jamestown and Springmount.
It is being sold by joint agents REA Stokes and Quirke and Anthony and Associates by private treaty. The guide price is €1.2m.
The land for sale is part of a larger solar farm project which has been granted planning, the agents say. The contract in place with the developer will see a passing annual rental of €47,000 per annum paid to the landowner, including a new owner, for 30 years, adjusted as required for annual inflation, once the project moves forward.
A new owner could be a farmer or other investor not involved in farming – as a result the property will generate plenty of interest. The annual rental income is approximately €1,100/ac which is higher than income available from long-term leasing for farming purposes.
This is one of the first blocks of land with planning for solar farm development to come on the market.
Speaking recently to renewables editor, Stephen Robb from the Irish Farmers Journal, Daniel Long, whose father is selling the land, explained that rather than leasing the land for 30 years, his father has opted to sell the land with the lease in place and realise its value today.
SHARING OPTIONS