Land use advice

Lissoy

My family was left about 45 acres recently from a will of a distant relative. The land was previously used for beef grazing but has fallen into disrepair and would require a lot of drainage and fencing works. There is about 40 acres in one lot with no out buildings and another lot of 6 acres about 5km away with a barn, some small sheds and an old cottage. There is good water and road access on both lots and it is located in the midlands and is on the outskirts of a big town.
I have some farming background from when I was younger but that was a good few years ago and have worked in a different industry most of my working life. I do have an interest in farming and it's something I would like to go back to but at this stage it wouldn't be feasible for me and I currently live on the East coast so doing something part-time wouldn't work either. It's probably something more long term for when I am getting close to retirement. The land was left between my siblings and myself so if I plan to do something with it in the future I'd need to buy them out. None of them have any interest in farming.
Any recommendations on what to do with this land? The options we see are selling it, long term lease, forestry, etc... From my siblings perspective they want to maximize the financial return on this whereas I'd prefer to keep it but I understand I need to be fair to everybody so will probably have to go with the flow.
Thanks in advance.

tanko

40 acres on the outskirts of a large town could be worth a serious amount of money if it has development potential.

Lissoy

tanko wrote: »

40 acres on the outskirts of a large town could be worth a serious amount of money if it has development potential.

It's not zoned for development and is not in the current County development plan. It also has some ESB poles going right through the centre so not sure how suitable it would be for development.

Donald Trump

Lissoy wrote: »

It's not zoned for development and is not in the current County development plan. It also has some ESB poles going right through the centre so not sure how suitable it would be for development.

Poles or pylons?

Hard Knocks

Lissoy wrote: »

My family was left about 45 acres recently from a will of a distant relative. The land was previously used for beef grazing but has fallen into disrepair and would require a lot of drainage and fencing works. There is about 40 acres in one lot with no out buildings and another lot of 6 acres about 5km away with a barn, some small sheds and an old cottage. There is good water and road access on both lots and it is located in the midlands and is on the outskirts of a big town.
I have some farming background from when I was younger but that was a good few years ago and have worked in a different industry most of my working life. I do have an interest in farming and it's something I would like to go back to but at this stage it wouldn't be feasible for me and I currently live on the East coast so doing something part-time wouldn't work either. It's probably something more long term for when I am getting close to retirement. The land was left between my siblings and myself so if I plan to do something with it in the future I'd need to buy them out. None of them have any interest in farming.
Any recommendations on what to do with this land? The options we see are selling it, long term lease, forestry, etc... From my siblings perspective they want to maximize the financial return on this whereas I'd prefer to keep it but I understand I need to be fair to everybody so will probably have to go with the flow.
Thanks in advance.

Don’t plant as it devalues straight away
If you intend to farm all/some in the future then long term lease is the only option

Donald Trump

Hard Knocks wrote: »

Don’t plant as it devalues straight away
If you intend to farm all/some in the future then long term lease is the only option

Also, planting in forestry is an almost irreversible decision under current regulations. You might be kissing any hope value, as regards long term development potential, goodbye

Dickie10

maybe you could get it re-zoned as residential, ask a politican to look into it or someone on the council. you could make anice few pound out of it then.

Castlekeeper

Sell all the sites you can along the roads, then sell the land.