Donegal Investment Group announces today that it has completed a number of disposals from its various land and property holdings for a total consideration of €3.68m. The gross and net proceeds from the sales are expected to be the same.
These recent sales include its 6.5 acres of development land in Ederney in County Fermanagh. They also include the latest sale of 245 acres from the Company’s Grianan Estate. The Grianan Estate is one of the largest farms in Ireland with a total area of approximately 2,830 acres comprising approximately 2,330 acres of agricultural land and a lake covering approximately 500 acres . Following the recent sale the Company shall continue to own approximately 1,880 acres at The Grianan Estate. This land shall continue to be leased for dairy, wheat , barley and produce farming.
The proceeds from the sales shall be used for general corporate purposes. These sales are consistent with the Company’s strategy of releasing capital from its non - strategic businesses and assets with the objective of focusing financial and management resources on the strategic areas of seed potato and value added dairy and associate investments .