Entitlements selling well

SINGLE Payment entitlements have been sold for a multiple of 2.25 to 2.5 times their annual value, according to auctioneer John Dawson.

Writing in Real Life Magazine, the incoming President of the Irish Auctioneers and Valuers Institute, said new entrants to farming are much sought by sellers of entitlements, because there is no clawback when entitlements are sold, with or without land, to new entrants.

A new entrant is defined as a farmer who did not engage in farming within five years in his or her own name, or at his or her own risk. The new entrant must be at least 18-years-old on January 1, and must have appropriate qualifications if aged under 35.