€230,000 on the table for mart

THE future of Sixmilebridge livestock mart may well rest with the bargaining powers of a four-man committee that has been given a mandate to negotiate with Golden Vale for the purchase of the property.
While the negotiations so far have been tentative, the committee is to step up its campaign after being given the go-ahead at a public meeting in Sixmilebridge on Tuesday night to try and broker a deal, which would ultimately see the ownership of the mart revert back to the farmers.
Golden Vale has put the premises on the market with a guide price of €450,000, down from an original estimate of €600,000, but the fact that a €230,000 offer, tabled by the committee, hasn’t been accepted or rejected is viewed as an encouraging sign.
Golden Vale says they received another offer of €300,000 but the fact that they haven’t given any indication as regards the committee’s bid is being interpreted as a willingness on their part to do business.
If the bid is accepted, the committee of Paul O’Neill, Stiofan Fitzpatrick, Pat Enright and Brendan Considine will then report back to another meeting, at which a finance committee would then be appointed. They would examine the specifics of the financial package, the shareholding and the selling of shares at a suggested price of €500.
At Tuesday’s public meeting, committee member Paul O’Neill disclosed details of the feasibility study they had carried out.
He said that the mart would be a viable proposition if it had a yearly throughput of 9,000 cattle, a profit situation would arise if the throughput reached 12,000, while the returns would be very rewarding if the number of cattle passing through the ring reached 14,000. The last time that throughput was achieved was in 1999, before the outbreak of foot and mouth disease.
Some speakers bemoaned the demise of Sixmilebridge mart and were critical of Golden Vale in failing to market the mart properly. However, the overall mood was one of optimism that the future of the livestock mart at Ballysheen could be secured.
Local councillor PJ Ryan is confident that a deal can be done to save the mart, first open in 1973 by a group of local businessmen when it traded as Bunratty Farmers Export Mart.
“There was a great community spirit in the hall tonight. You had people here from all walks of life, not just the farming fraternity. People are concerned about the future of the mart and what came across tonight was their desire that the mart wouldn’t close but would continue to trade.
“There was a lot of positivity at the meeting and speakers gave the distinct impression that they’d like to see the mart locally owned and operated. If farmers have a share in the mart, they will support their own and they will entice neighbouring farmers to do likewise.
“If a deal is brokered, it will be the bones of 10 years before investors will get a dividend on their shares. But everybody is opposed to borrowing money and the concept of raising the money through shares and the farmers banding together is one they seem to support.
“There is a good infrastructure in place now and the opening of the Shannon tunnel isn’t too far off. Furthermore, a couple of marts have closed in West Limerick, so the potential for extra business is there. A mart creates business for everybody, it brings people into the village on a Saturday, the shops do well out of it, while it also provides employment. It’s crucial that Sixmilebridge mart remains open and if it does, it’s up to the farming community to support it,” he said.