by Conor Power
Based in the Cork suburb of Douglas, DNG Creedon Auctioneers has established a strong reputation for conducting successful public auctions of several properties at once.
This pattern has been going on for some years.
Up to now, however, they have been mostly concerned with houses in and around Cork, but their upcoming auction on November 15 will involve seven lots of agricultural land around Munster, totalling 242 acres and offering some very interesting opportunities in the highly active farmland market.
The farms are in Limerick and Cork, with the smallest lot consisting of 1.5 acres near Liscarrol in Co Cork, and the largest parcel is a 58-acre farm near Bruff, Co Limerick.
Most of the Limerick lots were from one owner, and divided into four lots.
Auctioneer Shane Finn explains: “There are 180 acres, laid out in four parcels, around Bruff. Then in Caherconlish, I have 34 acres laid out in one parcel. In Ballinhassig, I have 21 acres and in Liscarroll in Mallow, I’ve got one of 1.5 acres.”
Of the holdings around Bruff, he says about 20 acres are wet and suitable for forestry. Apart from that, the quality appears to be reasonably good, with most of it being pitched at an advised minimum value of around €6,000 per acre.
At this level, it will surely attract bidders.
All of these lots are located in strong agricultural areas where the dairying sector is increasingly dominant.
Some decent-sized tracts at prices well below the Munster average will surely be a strong carrot for numerous parties.
Talking about the 180 acres near Bruff, Shane says that the overall price of €1,100,000 represents very good value: “It’s cheap, it’s good farming land with a limestone base. What it needs is for someone to go in and care for it. It’s perfect for grazing, the land just needs to be cleaned up.
There are a few big dairy farmers nearby so it would be ideal for someone to expand their herd.”
The lands at Caherconish are priced the cheapest, at €2,400 per acre. These lands are, according to the agents, “basically priced for forestry”.
At this price, however, they represent forestry land at good value.
The 21-acre holding near Ballinhassig is, according to Shane, an ideal property for a hobby farmer, with its great access to Cork city, the N71 (onto which it has direct road frontage) and Cork Airport.
“If a hobby farmer wanted to put a house on it, it’s ideal. You’re a stone’s throw from the city.”
it would seem that most, if not all, of the pieces of land for auction have the potential to go considerably higher than their guide prices.
“To be honest, I would expect these parcels to appeal to those looking for a hobby-farmer set-up, as well as those looking to expand their holdings, or even looking for something with site potential.”
The lots will be auctioned on Wednesday, November 15, at the Imperial Hotel in Cork city. The sale begins at 10am with registration. The auction kicks off at 11am, and by close of business, the following seven lots of farmland (along with another 25 lots of property) are expected to be sold:
n 1.5 acres at Knockardfree, Liscarrol, Co Cork (AMV €8,500);
n 21 acres at Rigsdale, Ballinhassig, Co Cork (AMV €85,000);
n 50 acres at Moohane, Cahercorney, Co Limerick (AMV €300,000);
n 36 acres at Moohane, Cahercorney, Co Limerick (AMV €216,000);
n 42 acres at Moohane, Cahercorney, Co Limerick (AMV €258,000);
n 58 acres at Kilcullane, Bruff, Co Limerick (AMV €308,000);
n 34 acres at Caherconlish, Co Limerick (AMV €80,000).