Date Posted: 23.05.2016
At a special function in Dungarvan, MEP Sean Kelly launched foresttomarket.ie website, a first for the Irish Forestry Industry in Ireland. This new website is a dedicated platform for investors to source existing forestry and land suitable for forestry for sale by auctioneers across the country. A recent report by the Society of Chartered Surveyors Ireland found the average price per hectare for forestry land was €9,838 in 2015 and increase of 5% over 2014 prices.
Pictured at the launch was from left Jim Power, Economist, Paddy Bruton, Managing Director of Forestry Services Limited and MEP Seán Kelly
The new website www.foresttomarket.ie has been developed by Forestry Services Ltd (FSL) and will provide a unique platform for:
- Auctioneers to advertise such assets
- Investors to source such assets
- Mailshots to all auctioneers & investors registered on the site of properties uploaded to the site
- Updates on current forestry matters
FSL will manage the website and provide backup services to auctioneers registered to use the website. Such services can involve preparing land suitable for forestry & existing plantations for sale, advice on stamp duty calculations and CGT implications on sale of forests.
FSL are offering a special introductory proposal to Auctioneers which will consist of:
- Free initial registration for auctioneers
- All registration by investors is free
- All property listings free until 31st August 2016
Launching the website Sean Kelly MEP said, “Forestry and the timber industry has been very much an under developed sector in Ireland and I feel this new website foresttomarket.ie is an ideal vehicle to help to promote and coordinate investors , farmers , auctioneers and all involved in the sector. I congratulate Paddy Bruton and all his team in Forestry Services Ltd on this one-stop-shop website initiative and wish them every success in the future".
Paddy Bruton, Managing Director of Forestry Services Ltd is not surprised by the increased investor appetite for forestry assets as “The combination of value in a naturally growing commodity and the security of ownership of the underlying land provides investors with a low risk asset providing long term capital appreciation in a sustainable and tax efficient manner”.
The removal of forestry from the high income earners restriction in the most recent budget is further evidence of the Government’s commitment to forestry. In this regard, income from the occupation of woodlands in the state, managed on a commercial basis and with a view to the realisation of profits, is exempt from income taxes for individuals and companies regardless of their residence or domicile.
Also speaking at the event Jim Power , Economist said, “In an environment of historically low interest rates and bond yields; volatile and nervous equity markets; uncertain property markets; the investment options are not at all clear or straightforward at the moment. For any investor, diversification is key and in that context, forestry can play a very valuable role. This website will make a very valuable contribution to investors interested in sourcing this investment option”.
Pictured at the launch from left are David Reynolds, Sherry FitzGerald Reynolds Dungarvan, Jim Power, Economist, MEP Seán Kelly, Paddy Bruton, Managing Director of Forestry Services Limited, Margret Harty, Harty Auctioneers, Dungarvan and Eamonn Spratt, REA Spratt, Dungarvan
Pictured at the launch MEP Seán Kelly
Pictured at the launch Jim Power, Economist
Pictured at the launch Paddy Bruton, Managing Director, Forestry Services Ltd.
Above: Dungarvan Leader May 27th 2016
Above: Munster Express May 2016
Above: Dungarvan Observer May 27th 2016
Above: Kilkenny People May 27th 2016