CO. KERRY FORESTRY PORTFOLIO REPUBLIC OF IRELAND Hectares / Acres. John Clegg & Co CHARTERED SURVEYORS & FORESTRY AGENTS

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1 CO. KERRY FORESTRY PORTFOLIO REPUBLIC OF IRELAND Hectares / Acres John Clegg & Co CHARTERED SURVEYORS & FORESTRY AGENTS

2 0 5,000 10,000 20,000 Meters Curraghmore West, Co. Kerry Goulnacappy, Co. Kerry Gortnacurra & Cooragweanish, Co. Kerry Derrylahan, Co.Kerry

CO. KERRY FORESTRY PORTFOLIO 379.26 Hectares / 937.15 Acres An opportunity to invest in four diverse commercial forest properties, each located in a stunning location in Co.

3 CO. KERRY FORESTRY PORTFOLIO Hectares / Acres An opportunity to invest in four diverse commercial forest properties, each located in a stunning location in Co. Kerry within the Republic of Ireland. Close to established timber markets. Sporting rights included. For Sale by Private Treaty in Four Lots or as a Whole Lot 1 Curraghmore West Ha/ Acres Offers Over 275,000 Lot 2 Goulnacappy Ha/ Acres Offers Over 250,000 Gortnacurra & Cooragweanish Ha/ Acres Offers Over 525,000 Derrylahan Ha/ Acres Offers Over 325,000 As A Whole Offers Over 1,375,000 Ganly Walters 8-34 Percy Place, Dublin 4, Ireland Tel: Ref: Robert Ganly JOINT SELLING AGENTS John Clegg & Co 2 Rutland Square, Edinburgh, EH1 2AS, UK Tel: +44 (0) Ref: Patrick Porteous

LOCATION The Portfolio is situated in the stunningly beautiful County of Kerry, in the south-west of the Republic of Ireland, as shown on the location plan.

Cork and Shannon International Airports, which provide regular flights from a variety of locations, are approximately 90 minutes away by car. The Portfolio is equidistant between Cork and Limerick.

the forest. There are two access routes into the property from the west, shown on the sale plan at points A1 and A2.

fourwheel drive access track through the forest and down to meet with the most southerly access point.

4 LOCATION The Portfolio is situated in the stunningly beautiful County of Kerry, in the south-west of the Republic of Ireland, as shown on the location plan. The properties are located close to Tralee, Killorglin and Kenmare, near the famous Ring of Kerry. Kerry Airport is nearby (just 15 minutes by car from Lot 1 Curraghmore West). Cork and Shannon International Airports, which provide regular flights from a variety of locations, are approximately 90 minutes away by car. The Portfolio is equidistant between Cork and Limerick. ACCESS Lot 1 Curraghmore West Curraghmore West is located just 5 miles south of the well-known town of Tralee, off the N70 public road leading on to a county road, which runs down the west side of the forest. There are two access routes into the property from the west, shown on the sale plan at points A1 and A2. There is also potential for a third access route to be used, if required The principal access is located at point A1, which leads on to an internal forest road for approximately 300m and then a fourwheel drive access track through the forest and down to meet with the most southerly access point. These internal tracks, which could easily be upgraded, provide access to virtually all parts of the property, as shown on the sale plan. Lot 2 Goulnacappy Located approximately 8 miles south of the pretty town of Killorglin, Goulnacappy Forest sits nestled in the foothills of the Macgillycuddy s Reeks, surrounded by stunning scenery and overlooking three small picturesque loughs. Access to the forest, shown at point A1 on the sale plan, is taken off the main Killorglin to Glencar public road towards Goulnacappy Farm. Access into the forest is currently only possible by four-wheel drive vehicle, along the existing forest tracks, which will need to be upgraded prior to timber extraction in the future. Material is available on site for this purpose, and a grant may be available for access improvements into the forest. Lot 2 Derrylahan Located approximately 5 miles south-east of the town of Kenmare, off the N71, Derrylahan sits on the slopes of Doughill with stunning views down to Kenmare Bay. The property also looks across to Gortnacurra and has direct access on to a minor county road, which passes along the southern boundary. The main access, shown at point A1 on the sale plan, leads on to the forest access track, which is currently only suitable for fourwheel drive access. The owners have already had the foresight to put in two extra access points, which could be developed when harvesting is anticipated. This may be eligible for grant aid Lot 1 Gortnacurra & Cooragweanish This property is located approximately 5 miles east of the well known town of Kenmare. From Kenmare, follow the R569 public road east towards Kilgarvan and just after Caher East, turn off on to the minor county road leading north into Gortnacurra and Cooragweanish. The forest entrance is shown at point A1 on the sale plan. The forest access road was grant aided, resulting in 1,500m of internal forest road in November This has been used for the extraction of timber and an extension to this is planned for access into the western compartments, which may also be eligible for grant funding.

5 DESCRIPTION The forests vary in species, age and soil type and, consequently, the growth in each property is reflected by these conditions. In summary: Lot 1 Curraghmore West Ha/ Acres The forest was planted in 1987 with Sitka spruce, including an intimate mix of Sitka spruce and Lodgepole pine. The site was ripped, with open drains being created on what was previously open hill ground. Due to the ground conditions, growth has been variable and in 2010, grant aid was secured under the Woodland Improvement Scheme to enhance the poorest 30 hectares of the forest. This work included creation of the access tracks and draining and mounding amongst areas of spruce, so that a nurse crop of Lodgepole pine could be planted and then fertilised. This has now improved the growth of the spruce considerably. The diverse age class structure has created a very interesting forest with good access, future timber supplies and sporting potential. Lot 1 Planting Year Species Area (Ha) SS SS/LP LP/SS UP Total Lot 2 Goulnacappy Ha/ Acres The property was planted in 1990 with mainly Sitka spruce, on a mounded site. There are also some minor areas of larch, Lodgepole pine and an area of very attractive native mixed broadleaves. In April 2010, a hill fire burnt approximately 18 hectares of spruce along the western edge, which has been re established and is now growing well. The existing network of tracks provides access to most areas and the varied structure creates a very attractive property with outstanding views. There is potential to add a small log cabin (subject to planning permission) to enjoy the scenery and rights to fish on the adjoining Loughs. Lot 2 Planting Year Species Area (Ha) SS MBL UP Loughs Total Gortnacurra & Cooragweanish Ha/ Acres The forest was established in two stages; hectares planted in 1992; hectares planted in 1996, all on mounded and drained hill ground. Established on a southerly facing slope, soil quality varies, which is reflected in the varied growth rates and Yield Classes. Thinning took place in 2011 within the lower half of the property, where the crop is growing at a faster rate. The forest is also surrounded by similarly aged private forest and benefits, to some extent, from this shelter. Planting Year Species Area (Ha) SS SS/LP LP SS/SP UP Total Derrylahan Ha/ Acres Derrylahan was established in 1997 on former hill ground which was mounded, drained and then planted with predominantly Sitka spruce, with some areas in mixture and in groups of Japanese larch and Lodgepole pine. An internal forest access track has been developed off the minor county road, which is currently being used by Coillte for haulage of timber from one of the neighbouring properties. Growth rates are good, although quite variable on the rockier outcrops due to shallow soils. There are also two further access points off the public road, which will assist with harvesting in the future. Planting Year Species 1997 Area (Ha) SS/JL SS/JL/LP UP Total For further information please contact the Selling Agents. TIMBER MARKETS & HAULAGE All of the properties are well-served by the public road network, with no restrictions on timber haulage. The south west of Ireland has a well-established market for timber, with various sawmills and timber processors lying within two hours drive of the Portfolio. There is also a well-established contractor base within the forest industry, which can provide the full range of services required for forest management, harvesting, haulage and re-establishment operations. FOREST MANAGERS The properties are currently managed by Lissarda Forest Ltd, who provide the owners with a complete forest management service. For further information, please contact Traolach Layton, Lissarda Forest Ltd, Lissarda, Co. Cork, Ireland; Tel: (+353) SPORTING RIGHTS The sporting rights are included with the Freehold for all of the properties. All of the properties have the potential to develop the sporting for woodcock and deer stalking. Small ponds could also be created in Lots 1, and 4 for duck flighting and there is the potential to fish for trout from the Loughs in Lot 2. BOUNDARIES The boundaries of the properties are shown on the sale plans and whilst every effort has been taken as to their accuracy, the legal boundaries may vary slightly. Where existing stock fences adjoin neighbouring properties, these fences are maintained at joint equal expense, unless otherwise stated in the Folios/Titles. MINERAL RIGHTS The Mineral rights are included in the sale of each property, or as stated in the Folios/Titles.

WAYLEAVES & THIRD PARTY RIGHTS There is an overhead electricity wayleave passing through part of Curraghmore West (Lot 1).

The properties will be sold with the benefit of, and subject to, all existing rights and burdens within the Folios/Titles, including all Wayleaves and Third Party rights.

The purchaser is obliged to comply with the Forestry Acts in respect of the ongoing management of these properties.

6 WAYLEAVES & THIRD PARTY RIGHTS There is an overhead electricity wayleave passing through part of Curraghmore West (Lot 1). The neighbouring farmer to Goulnacappy (Lot 2) has permission from the owner to cut peat for fuel within part of the property on an annual basis only. The properties will be sold with the benefit of, and subject to, all existing rights and burdens within the Folios/Titles, including all Wayleaves and Third Party rights. WOODLAND GRANTS Grants have been received from the Forestry Service in respect of all of the properties. The purchaser is obliged to comply with the Forestry Acts in respect of the ongoing management of these properties. Purchasers should make their own enquiries on the availability of grants for future forest management. Further information on the availability of grants for woodland management operations is available from the current Forest Manager, or through the following websites: grantsandpremiumschemes VIEWING Viewing is by appointment only and viewings are to be accompanied by the Forest Manager. Therefore, potential purchasers must contact John Clegg & Co in advance of their intended visit. Viewings will be during daylight hours and potential purchasers must be in possession of a set of these sale particulars. For your own personal safety, please be aware of potential hazards within the forests when viewing. JOINT SELLING AGENTS John Clegg & Co, 2 Rutland Square, Edinburgh, EH1 2AS, UK; Tel: +44 (0) ; Fax: +44 (0) ; Ref: Patrick Porteous. Ganly Walters, 8-34 Percy Place, Dublin 4, Ireland; Tel: ; Ref: Robert Ganly. OFFERS If you are interested in any of the individual properties, or the Portfolio as a whole, and would like to note your interest or make an offer, it is important that you notify the Selling Agents by or letter. SELLER S SOLICITORS Ronan Daly Jermyn, 2 Park Place, Citygate Park, Mahon Point, Cork, Ireland; Tel ; Ref: John Dwyer. LEGAL PROCESS On acceptance of an offer(s) the vendor s solicitors will send the purchaser s solicitors a contract of sale. The purchaser s solicitors will then satisfy themselves that the contract accords with the property Title and that there are no adverse conditions. If satisfied, the purchaser will sign the contract and return this with a 10% deposit. The vendor will then sign the contract; however, until the vendor signs the contract he/she is not bound to sell and can withdraw from the sale and return the deposit. The purchaser has 28 days from the date of entry to pay Stamp Duty, which is calculated at 2% of the value of the property, (excluding growing timber value, which is currently exempt). In order to purchase a property in the Republic of Ireland, it is necessary to obtain an Irish Tax Number, known as a PPS Number. This is a simple procedure, which takes 2-3 weeks and is solely for Stamp Duty Tax purposes. We recommend this is done in advance of purchasing any property in the Republic of Ireland to avoid any unnecessary delay or a penalty. TAXATION In the Republic of Ireland all revenue from timber sales and forestry grant income is Income and Corporation Tax free at present. There is no Capital Gains Tax (CGT) on growing or felled timber, although it is chargeable on the land. VAT is charged on forestry work and timber sales, although its effect is usually neutral if the property is managed as a business. Lot 2

IMPORTANT NOTICE John Clegg & Co LLP and Ganly Walters, its members, employees and clients give notice that: 1.

intended to give a fair overall description of the property for guidance purposes only.

Neither these particulars nor any subsequent communication by John Clegg & Co LLP/Ganly Walters will be binding on its clients, whether acted upon or not, unless incorporated within a written

The sellers do not make or give, and neither John Clegg & Co LLP/Ganly Walters nor its members, employees nor any joint agent have any authority to make or give, any representation or warranty in

7 IMPORTANT NOTICE John Clegg & Co LLP and Ganly Walters, its members, employees and clients give notice that: 1. These particulars (prepared in September 2015) and all statements, areas, measurements, plans, maps, aspects, distances or references to condition form no part of any offer or contract and are only intended to give a fair overall description of the property for guidance purposes only. John Clegg & Co LLP/Ganly Walters will not be responsible to purchasers, who should rely on their own enquiries into all such matters and seek professional advice prior to purchase. 2. Neither these particulars nor any subsequent communication by John Clegg & Co LLP/Ganly Walters will be binding on its clients, whether acted upon or not, unless incorporated within a written document signed by the sellers or on their behalf. 3. The sellers do not make or give, and neither John Clegg & Co LLP/Ganly Walters nor its members, employees nor any joint agent have any authority to make or give, any representation or warranty in relation to the property unless incorporated within a contract for sale in the Law Society of Ireland standard format. 4. The property (which may be subject to rights of way, servitudes, wayleaves and others) will be sold as per the title deeds or folios, which may differ from these particulars. Photographs may depict only parts of the property, which may not have remained the same as when photographed. 5. Where reference is made to grant schemes, planning permissions or potential uses, such information is given by John Clegg & Co LLP/Ganly Walters in good faith, but purchasers should rely on their own enquiries into those matters. 6. Prospective purchasers should be aware of the influences Wildlife habitat, and any statutory designations, may have on the property, including rights of public access under current legislation. 7. The sellers will not be obliged to accept the highest, or indeed any offer, and may at any time accept an offer or withdraw the property from the market. Neither the sellers nor John Clegg & Co LLP/Ganly Walters or their joint selling agents will be responsible for any costs incurred by interested parties. Lot 1 Lot 1

Lot 2 John Clegg & Co England: 01844 291 384 Scotland: 0131 229 8800 Wales: 01600 730 735 John Clegg & Co LLP is a limited

8 Lot 2 John Clegg & Co England: Scotland: Wales: John Clegg & Co LLP is a limited liability partnership registered in Scotland (No. SO302718) whose registered office is at 2 Rutland Square, Edinburgh, EH1 2AS

DAVIOT WOOD. Near Inverness, Inverness-shire Hectares / Acres

DAVIOT WOOD. Near Inverness, Inverness-shire Hectares / Acres DAVIOT WOOD Near Inverness, Inverness-shire 136.60 Hectares / 337.53 Acres DAVIOT WOOD Inverness 3.5 miles Nairn 17 miles Perth 110 miles Edinburgh 155 miles (Distances are approximate) DAVIOT WOOD 136.60