Prime land under the hammer
The land at Rusheens, Castlemaine, is just five minutes from the village, and more or less the same distance from Firies.
Divided by an old rail line into two lots, the property has frontage onto the main Castlemaine-Farranfore Road, and is level pasture land. A mixed holding, it includes a separate 0.8 acre lot with an old farmhouse dwelling which needs modernisation, or could be used for site value, if necessary.
The 40-acre holding is an executor’s sale, and the guide price is €450,000 — the equivalent of €11,250 per acre.
While the farm has reverted a little over the years, it’s good quality land and would respond to some work, says Michael O’Shea of DSL Lakeside Properties. It’s sure to draw the attention of neighbouring farmers, as it’s an affordable and handy size for a farm addition.
At the moment, the property is being offered in its entirety, but may be offered in lots when the auction starts at 3.30pm today.
ON THE PLUS SIDE: The market picked up for sellers a little last week, when a 24-acre holding at Kanturk sold for just under its guide price.
But, according to Denis Barrett of Barrett Cahill, it was the cheapest bit of land they have sold all year.
The Bawnmore farm was a ready-to-go equestrian holding within three miles of Kanturk, but sold to a neighbouring farmer on the day of the auction.
There was a small enough attendance, but those who were there had strong interest in the entire property, says Barrett.
The land sold for €380,000, close enough to the guide of €400,000 considering the state of the market at present.
The sale realised a per acre price of €15,833.
With good road frontage, the property seems to support Barrett’s contention that good quality land will sell well, despite the downturn. Joint agent for the Bawnmore farm was Timothy O’Connell of Mallow.
