A Donegal firm has today announced the purchase of the 2,400 acre Grianan Estate at Speenogue, Burt, Co. Donegal.
Glenmore Estate Farms Ltd. have bought the land and associated assets from Donegal Investment Group plc for €17.425 million.
The Grianan Estate is one of the largest agricultural estates and organic farms in Europe. The 2,400 acres of land on the north coast of Donegal includes a vast expanse of prime fertile and productive land and a 500-acre lake.
Glenmore Estate Farms Limited is a mixed farming company registered by directors Karol McElhinney and Chantelle Mcelhinney at Aghaveagh, Cloghan, Co. Donegal.
The company will now hold the largest farm that has come to market in Ireland in over a decade.
The approximately 2,400 acre property consists mainly of land reclaimed from Lough Swilly, making it particularly fertile and suitable for all farming enterprises. It includes 1,290 acres of organically farmed prime land and grows a range of crops such as cereals, red clover and root crops. There is also an extensive range of farm buildings which have overwintering accommodation for 400 head of cattle.
For the past 10 years, the farm has been producing over 3,000 tonnes of organic produce per annum including milk, vegetables and cereals. Various Irish household brands are sourced from the farm.
The Grianan Estate overlooks the shores of Lough Swilly, which is famous for its wildlife-watching and diving on the numerous ship wrecks, including the White Star Line’s SS Laurentic – sunk by a German mine in 1917.
The sale was today announced by Savills Ireland, on behalf of Donegal Investment Group plc.
According to Pat O’Hagan of Savills, the sale generated significant interest from local and international investors, active farmers and farming companies:
“No other opportunity of this scale is likely to be presented again in the Irish farming property market, therefore it was no surprise that interest – from various buyer types – was strong.”
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