Trophy and monetary value
The property at Ring, Ballymacoda, has been let for a number of years and one 30-acre lot was leased with 23,617 gallons of milk quota. This is all under grass at present, but the remainder of the land, amounting to 65 acres, is under tillage.
Now, stunning sea views mightn’t necessarily turn a farmer’s head, but it will bring in the hobby farmers, especially when you consider that there’s a derelict house for sale with the property.
This area of east Cork is a very popular residential location and good roads make the commute to town easy, plus, there’s the eventual opening of the Midleton rail line as an added extra.
Non-farmers are an increasingly strong presence in agricultural sales perhaps because a substantial land holding has a trophy as well as a monetary value and, in terms of investment, the return is better than having money sit in the bank. This farm, however, is 15 miles from Midleton, which should narrow it down a bit, but David Keane is prepared to sell in lots, subject to negotiation. The holding is residential and includes a three-bedroomed bungalow in good condition.
The land is in four separate divisions and has good road frontage and it’s good quality tillage land, says Mr Keane, with an average yield of 3,000 tonnes per acre. The land with quota should fetch in the region of €15,000 per acre he says, while the tillage ground carries a guide of €12,000.
Mr Keane says the house should fetch in the region of €300,000 and the site, in the region of €150,000.
He gives an overall guide price of €1.5 million for the Ring property. Meanwhile, the same estate agent is selling eight acres off the main Cork/Macroom road and expects it to make close to the sum that was achieved by a similar property, in the same location, last year. Inchirahilly, Crookstown, has an old yard and sheds which could be parlayed into a planning permission for a dwelling and access is off the old Macroom road.
