It would appear that property in the Carrigtwohill area is going to be all the rage over the coming weeks.
After a 31-acre property about 1km from the East Cork town featuring in these pages last week, this week it’s the turn of a 41-acre holding about 2.5km from this Cork City commuter town.
The continued growth of Carrigtwohill is a hot topic too, and there aren’t too many towns that have its advantages: A motorway to the door, good schools, shops and other services, and a railway station. It’s an area with plenty of agricultural land surrounding a small town that is destined to become a lot bigger over the next few years.
This non-residential farm at Carrigane is listed with Cork-city based auctioneers Irish and European.
The railway line from Cork cuts through this holding, access from one side to the other is facilitated by an overpass. “It’s a very tidy plot,” says selling agent Trevor McCarthy. “It’s in two sections. There’s road frontage on one section, the larger one, and the Cork-Midleton railway line splits it into 31.5 acres and 9.5 acres roughly. It’s very good land.”
The agent points out that the bridge linking the two is of excellent quality, and serves the purpose very well, so that the existence of the railway track doesn’t interfere with the business of farming.
He also points out that the 9.5-acre southern section is bounding a large industrial site, commonly referred to as “the Amgen site”, it’s the one where American pharmaceutical company Amgen were intending to locate back in 2006. Today, it remains one of the best serviced commercial sites in the country, covering 133 acres. It bears some relevance to the value of this particular holding, as the situation may yet give it some hope value for the future as a potential commercial site.
“Yes, you’d hope that it could have some long-term potential,” says Trevor. “In any case, Carrigtwohill is a very good town, it has a lot of estates and more to be built, you have the railway, and its growth potential is very strong.”
Apart from the quality of the land, the access is also good, according to the selling agent, with approximately 150 metres of road frontage on the northern side: “Yes, it’s very easily accessed,” he says. “It’s only about two and a half kilometres from the main street in Carrigtwohill.”
It is the kind of property that has been put up for public auction in the past. However, there is a certain amount of caution in the air at the moment with regard to land prices and, like most other land sales, this one will remain a private treaty offer.
The larger town of Midleton is approximately 6km away, while Cork city centre is a very accessible 18km from the property.
There aren’t any entitlements with the farm, but this is a package that will certainly attract plenty of attention. There are water and electricity supplies to the holding.
The location is a highly sought-after one, and the quality of the land adds another layer to the value of this holding. It has only just been presented to the market, but the auctioneers expect that interest will be brisk.
“I expect there to be some strong interest,” says Trevor.
The price expectation is likely to be dictated primarily by the agricultural land value, with any potential commercial value having a very limited effect on the price.
Land prices are high in this part of the world, where the land is good and the access to markets excellent.
The agents are expecting it to make around €575,000, or €14,000 per acre.