JP may be €3.7m buyer
McManus now lives in Switzerland but regularly returns to Ireland where he often organises golf tournaments and other fundraising events for local charities. He owns more than 100 racehorses, and is one of the major Irish players at Cheltenham this week.
The farm, at Ballynacree, was one of the first large sales announced this year. It was put on the market jointly with Tom Crosse, of GVM Auctioneers and Matthew Ryan of Matthew Ryan and Co.
The 280-acre holding is only 10 miles from Mr McManus’s Martinstown Stud, where the currency dealer/investor is building a sprawling new 50,000 sq ft mansion.
Up the road at Fedamore House, his brother, Gerry, is adding a 20,000 sq ft extension to his existing Georgian mansion, which has prompted locals to dub the McManuses the Ewing Brothers.
The land went to auction on February 25, with a guide price of €1.7 to €1.8 million.
Bidding opened at €1 million and the farm was placed on the market at €2.8 million. Several bids later, it was knocked down to Power Solicitors, who purchased the property in trust for a whopping €3.7 million.
“It is a renowned farm,” says Matthew Ryan, “and is well known locally as ‘Coffey’s land’. It’s superb fattening ground, and ideally suited for bloodstock as well.”
Tom Crosse is now selling a much-smaller holding at Toureen, Co Limerick. This 24-acre property, which includes a yard and traditional farmhouse, is described as truly outstanding by the agent, who says it has good road frontage and site potential.
He’s prepared to sell in lots and will auction the property on April 7 in Pery’s Hotel, Limerick, unless previously sold.
With excellent quality land, the major part of the farm can be purchased as one 20-acre lot, with the farmhouse and four acres as another option, perhaps for the hobby farmer or commuter.
The guide price given for the entire is €475,000.
