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7 acres in East Meath - Rental Income

  • 30-05-2013 3:43pm
    #1
    plys
    Registered Users, Registered Users 2 Posts: 221 ✭✭


    Hi,

    Firstly, please forgive my ignorance in advance - i am completely clueless when it comes to farming in general, and particularly as a business!!

    I'm looking at buying a property in Meath, which has 7 acres of pasture attached to it. The land is good, well drained, on a slight hill, and has about 20metres road frontage.

    I am obviously not going to farm the land myself, so how much rental income could i expect to receive for the 7 acres?

    Planning a mortgage application soon, so I need numbers that are realistic.

    Please ignore the fact that the bank will discount the rental income for the purposes of the mortgage application.

    Thanks,

    plys


Comments

  • #2
    Tipp Man
    Closed Accounts Posts: 4,025 ✭✭✭Tipp Man


    Anything from 1,000 to 1,500 I would say depending on whose bounding it.

    Not many lads would travel for 7 acres so really it would depend on how much the neighbours want it


  • #3
    1chippy
    Closed Accounts Posts: 1,716 ✭✭✭1chippy


    There is some bad land in Meath too. Id say at that size 1000-1200 would be plenty but ive seen land in meath i wouldnt give 50 an acre for.


  • #4
    bogman_bass
    Registered Users, Registered Users 2 Posts: 5,083 ✭✭✭bogman_bass


    most of that bad land being in the west or North of the County I'm sure.

    where exactly in the county is it? Are you close to Veg farmers?

    You are definitly in the right spot for spud men


  • #5
    plys
    Registered Users, Registered Users 2 Posts: 221 ✭✭plys


    Thanks folks. Was told last night that i could expect max 5k per annum? I'm assuming you are all quoting per annum figures? Land is between Ratoath and Kilbride


  • #6
    lakill Farm
    Registered Users, Registered Users 2 Posts: 4,735 ✭✭✭lakill Farm


    It will depend on weather its suitable for potatoes and if a potatoe lad would even come in for 7 acres.

    5k? if you submit that to the bank they will laugh at you.

    €7acres will make max €2,450 (€350 an acre) thats with maps.

    plys wrote: »
    Thanks folks. Was told last night that i could expect max 5k per annum? I'm assuming you are all quoting per annum figures? Land is between Ratoath and Kilbride


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  • #7
    bob charles
    Registered Users, Registered Users 2 Posts: 6,343 ✭✭✭bob charles


    lakill Farm wrote: »
    It will depend on weather its suitable for potatoes and if a potatoe lad would even come in for 7 acres.

    5k? if you submit that to the bank they will laugh at you.

    €7acres will make max €2,450 (€350 an acre) thats with maps.

    potatoes is only one year in every 5 and the land is usually shagged afterwards. relastic rent is €1000 to €2000.


  • #8
    plys
    Registered Users, Registered Users 2 Posts: 221 ✭✭plys


    Not going to be worth my while so. Thanks all but i'll have to park this project in the "Dreamer" category :)


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