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Ardderrynagleragh, Maam Cross, Co. Galway
Ref: S0224

For Sale Freehold
Offers on €750,000

Maam Cross (Ardderrynagleragh) Woodland is an interesting commercial proposition, located in an area of outstanding beauty in the west of Ireland. It will appeal to investors of various types; those seeking solid tax-free returns and those with vision to see potential beyond the forestry.

Planting at Ardderrynagleragh was carried out mainly in 1989. The property includes approx. 178ha of a mixed conifer plantation consisting of Sitka spruce (SS) - over 70% of planted area - and Lodgepole pine (LP). The growth is consistent with SS and LP plantations in the area. The property borders Ardderry Lough, Lough Agaddy and Lough Nahasleam and overlooks the hotel at Maam Cross. A 110kV ESB line has a 61m corridor through the property. An access road from the adjacent Coillte property to the East was built by the ESB during construction of the line. Access to the property can also be gained through the entrance from the R336 just south of Maam Cross.

Altitude: 35 – 85 metres
Total area: 209.68ha - as per folio GY87918F
Planted area: 178ha
Detailed species map available upon request.

Ardderrynagleragh is located just south of Maam Cross approx. 43 km north-west of Galway city.
From Galway: From Galway city take the N59. Continue on the N59 for 23km, through Moycullen and Oughterard. Continue through Oughterard on the N59 for another 17km until you reach Maam Cross. The property is on your left, across Ardderry Lough, as you approach Maam Cross. At Maam Cross (Peacockes Hotel) take a left onto the R336 for about 400m and the entrance to the property will be on your left hand side.
Loc8 Code: K5P-19-R84
Grid Reference Number: L 97531 45894
The property could also be seen on foot via the adjacent Coillte property – entrance / barrier located 3km to the east of Maam Cross on the N59 – this is not a right of way.
Loc8 Code: K4P-78-T74
Grid Reference Number: M 00702 45802

HEALTH AND SAFETY
Observe normal precautions; park safely, wear suitable protective clothing; stay to paths and be careful of fencing, drains, ditches, and branches. Do not cause a fire risk or visit during stormy conditions. It is a large property, rough underfoot in places; ensure that your whereabouts are known to others.

MANAGEMENT
Woodland Managers Limited (Woodland), Merchants Dock, Merchants Road, Galway, is available, if required, to provide management to a purchaser.

INSURANCE
The plantation is insured through the Woodland Scheme, which covers fire and certain other risks as well as public liability, renewable, subject to availability, terms and conditions, renewal date is 1st April 2018.

TAXATION
Income arising from the occupation of Irish woodlands managed on a commercial basis is generally exempt from income and corporation tax. Capital gains arising on the sale of woods are exempt from Capital Gains Tax (CGT) in the hands of an individual. Any gain attributable to the land is liable to CGT; indexation may eliminate normal chargeable gains. It is essential that you consult with your tax advisor in relation to tax issues where relevant.

STAMP DUTY
S.120 of the 1990 Finance Act exempted from stamp duty the value attributable to the trees arising on a transfer by sale.

LEGISLATION
Prospective purchasers should familiarise themselves with the Forestry Act, 2014 and the Forest Service Code of Best Forest Practice, Harvesting and other Guidelines and related matters.

METHOD OF SALE
The property is offered for sale as a whole, with vacant possession, subject to ESB easement of way. Interested parties (Purchasers) should keep in close touch with Spencer Auctioneers and/or Woodland with a view to registering their interest. The Owner may choose to negotiate with none, one or more parties following receipt of offers and is not bound to accepting the highest or any other offer. Bank references may be required. Please submit offers on the basis that a Purchaser will be required to exchange standard Irish Law Society contracts within two weeks of acceptance of an offer (or agreed variation thereto) and that closing of sale will be required within a further four weeks. The Vendor’s solicitor is: McCarthy and McCarthy Solicitors, Premier House, 2 Main Street, Ballincollig, Cork

Important Notice
The enclosed information and particulars have been prepared for the guidance of Purchasers. They are intended to give a reasonable overall description of the property but do not constitute, or cannot be construed to constitute, any part of an offer or contract. Descriptions of properties containing subjective elements are given in good faith as opinion and not as statements of fact. Figures: All figures are for guidance and are given in good faith. Intending Purchasers must satisfy themselves by inspection or otherwise as to the accuracy of details regarded by them as significant.

Photographs: Any photographs provided depict only certain parts of the property and no assumption should be made that the photographs represent the other parts of the property or that the photographed areas remain as shown.

Forestry Act: The property is subject to the Forestry Act, 2014 arising from which there would normally be an obligation to replant following clearfell. Felling of trees requires a licence.

Warranty: Spencer Auctioneers and Woodland Managers Limited, and their employees, have no authority to make or give any representations or warranties in relation to this property. The Vendor gives no warranties.

Third party rights: Any known third party rights are described but intending purchasers should satisfy themselves in regard to same.
Conveyancing of the property will be in accordance with Irish law.
Any further information provided in writing, or otherwise, to enquirers shall also be subject to this Notice.


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