Bidding against Coillte

Galway93 · 09-04-2022 7:28pm #1

Hi there, there’s been some land close by which I placing bids on, I have recently discovered it is Colillte the other bidder. It’s currently 6.5k an acre am I wasting my time bidding against them as ultimately they will have much more power than I. Has anyone else came up against them. I am already 20k over than what I thought I buy it for and probably what it’s actually worth. Financially I am ok but is getting on high side but ultimately it’s getting very close to my limit before it gets a ridiculous price, and it’s more of a strategic buy to all join land together into a 60acre block instead of a large field in the middle splitting it.

thanks in advance for any advice when competing against a corporation.

Cavanjack · 09-04-2022 7:48pm

As far as I know colilte have a limit on what they will pay for land that they will plant. I’d say you are getting close to it. I think it used to be €5000 an acre a few years ago. If you knew anyone in the forestry industry they might know or find out.

best of luck

[Deleted User] · 09-04-2022 7:58pm

https://www.boards.ie/discussion/comment/118904246#Comment_118904246

There may even be a forestry forum around here somewhere 😉

blue5000 · 10-04-2022 4:12pm

If you are joining blocks together you'll always regret not buying it.

Furze99 · 10-04-2022 4:35pm

What roughly is the size of this parcel of land? Doesn't sound like it can be huge, which is kinda odd as Coillte and formerly Dept of Forestry usually deal in large areas. Biggest landowner in the state I believe. If it is on the smaller side, what benefit is it to them, maybe they have another reason? Has it ROW access to an existing plantation maybe? Coillte also sell land at substantial prices for people to build on.

cjpm · 10-04-2022 4:44pm

https://www.boards.ie/discussion/comment/118906978#Comment_118906978

It makes running a farm so much easier. No bollocksing around moving cattle in a cattle trailer or running them up a public road.

Easten · 10-04-2022 4:50pm

Most places go way over the odds, the worst part is that maybe a far better farm could be bought after for a lot less money. It happened to me in the past, I was out bid on a 20 acre block of land only to buy 65 acres and an old house for the same money 2 years later.

Land prices have risen a lot over the last 18 months, 12 - 25k prices are the norm. 6.5k/acre is not over the odds for land

[Deleted User] · 10-04-2022 5:14pm

https://www.boards.ie/discussion/comment/118907147#Comment_118907147

I was at a land auction recently, saw 3 of 4 lots sold. Two had "guide prices" of 50k each. One went 62k, the other 76k. All bought by Cork people...

Bass Reeves · 10-04-2022 6:09pm

In the last 2 years the average price of land has gone from 7k to 10k/acre over the complete country.

However there is a huge difference between the value of a 100+acre dairy farm laid out in paddocks with milking parlour, sheds and roadways and a 20-30 acre block conacred for the last twenty years. As well on most large dairy farms there is a decent house or maybe two.

Value a house at 300k, paddocks, water, land fertility, farm roadway maybe 1.5-2k/acre. Sheds and milking facilities 2-3/acre

Most dairy farm that make big money are ones that can be stocked at 4-5/HA. That means in today prices you could be turning over 400k per year in milk and stock sales.

tabby aspreme · 10-04-2022 6:18pm

What size is the piece of ground, do coillte have land already joining it, how did you find out it's coillte bidding on it

Galway93 · 10-04-2022 9:48pm

its official 32 acres but only 20acres is field type land rest is bog, so I have 130 on it which tbh not good quality land 80-100 is probably what I value it with no connections. Like needs to be drained and reseeded, fenced so could add another 10k then. They do have a couple 100 acres down that road. So not exactly boarding but they do have a major plantation there anyway up to 500acres I would reckon. It would have two road accesses but that be bog road kinda way.

see that’s what my father is saying, it’s gone too high and buy a nicer field away from the village for same value. I here I’m thinking the long picture of joining all the paddocks with probably another 20acres going for sale say in next 10-15years which could always peak my interest then if I was still doing ok. Myself I’m more of a working professional and it’s purely hobby for myself and to make dads life a bit easier when I’m not there.

like I’m still top bidder but they have gone aggressive last week with some big increases in one goes.

Fine Day · 11-04-2022 12:23am

https://www.boards.ie/discussion/comment/118908577#Comment_118908577

Think with your head and not your heart is all I will say. Best of luck with sale. I hope you will be successful without the financial strain.

Bass Reeves · 11-04-2022 8:22am

High bidding could be a sign that they are reaching there limit so they could be trying to shake you off. I would take no notice but decide on what your final price you are going to stop at and go to that

arctictree · 11-04-2022 8:43am

Could also be the auctioneer just bumping up the price for the seller. Happened to us, price went up to nearly 1.5 times guide price. We pulled out and then the next week the auctioneer comes back saying that the seller 'preferred us' as a buyer. Told him where to go. A year later the field sold for under the guide price. We had moved on.

Anto_Meath · 11-04-2022 8:53am

Arctictree that was my thoughts on this too, everyone knows how honest some auctioneers are. Like how does Galway know it is Coillte that are the other buyers for this property.

maestroamado · 11-04-2022 9:03am

I think you should contact coillte directly... I know a guy and he told me that the forestry were buying land close to his house... he said he called to the office and said he did not want the land planted as it is close to his house and he is a farmer and wanted to farm it... i do not remember the detail but he said they were very fair about it and that they were very reasonable to deal with...

chooseusername · 11-04-2022 10:31am

Could any locals be the bidders here and spreading the Coillte story to spook you out?

JoeCasey · 11-04-2022 10:43am

Ask them if they would take a parcel of land from the edge of your property.

blue5000 · 11-04-2022 10:58am

https://www.boards.ie/discussion/comment/118909998#Comment_118909998

Could find out first are they bidding on it? Before you offer them a ROW.

kevthegaff · 11-04-2022 11:32am

They planted only 50 metres from the house here, disgrace, had planning permission in a newspaper up the country

Bass Reeves · 11-04-2022 12:51pm

https://www.boards.ie/discussion/comment/118910070#Comment_118910070

As well if it is access they need let them have a corridor (probably 20' wide) and let you take a ROW accross the corridor at 2-3 points. You do not want to be maintaining a Forrestery ROW

Easten · 11-04-2022 1:07pm

A fair bit of nonsense being spouted here. Coillte will not disclose information on if they are bidding on a property, the only way you might if you are lucky find out that information is if someone in Coillte or the estate agents office is leaking information, I wouldn't be risking my job doing that if I was in either place.

Coillte have no price limits, they factor in future timber values, site suitability and have they synergises like other plantations in the area. Coillte are not easy to deal with, they will follow the letter of the law right down to the last detail and have an unlimited law budget at there disposal.

Rusheseverywhere · 11-04-2022 1:18pm

https://www.boards.ie/discussion/comment/118910768#Comment_118910768

Easten is spot on. Local land a neighbour offered a forestry company (Private) above (think well) what they had paid for land, good land adjacent to a forestry and adjacent to his land. (Forestry got land as was a private sale executors and the forestry got in before him. The dead man no real relatives, no will and solictors dealt with all.) Forestry crowd not entertain him at all and was planted in the end.

maestroamado · 11-04-2022 1:20pm

https://www.boards.ie/discussion/comment/118910246#Comment_118910246

The closest that anyone can plant to a house is 30 metres with permission of owner and 60 metres without the owners permission... That is current info from forest inspector... That os for native Irish broadleaf...

kevthegaff · 11-04-2022 2:29pm

https://www.boards.ie/discussion/comment/118910833#Comment_118910833

There not natives

maestroamado · 11-04-2022 2:44pm

https://www.boards.ie/discussion/comment/118911275#Comment_118911275

The principle reason i sent message is i think 60 metres... thats all i know...

Galway93 · 11-04-2022 5:07pm

Thanks all for the advice, their gone higher again this morning, so I think I'll do one last bid and it be final offer from me. Although I know between 6.5k-7k isn't high compare to the other counties around Ireland, but the quality of this specific field just isn't there. Like as said there be plenty of land for sale down the line as there's nothing to be made out of it and the younger generation don't wants much to do with it and for me its a hobby more than anything.

Galway93 · 11-04-2022 5:15pm

if all else fails, as they say cash is king may go to the neighbour family directly and offer large portion of the amount in cash, that's one thing not many corporations will do and might convince them otherwise, I assume I couldn't go to the estate agent and offer this directly.

maestroamado · 11-04-2022 7:45pm

https://www.boards.ie/discussion/comment/118912159#Comment_118912159

Cash is not king unless its accounted for... especially for people who are on payments... Almost the only place i use cash is for pints and ice cream and buying silly stuff that i shouldn't...

Birdnuts · 11-04-2022 10:43pm

https://www.boards.ie/discussion/comment/118911275#Comment_118911275

Coillte are a shower on so many levels so I wish the OP success with his endevours

kevthegaff · 13-04-2022 9:09am

Do coillte sell land after 1st or second plantations

Bidding against Coillte

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