North Cork farm guided at €9k per acre
Now, the 78-acre holding at Killacluig, Mitchelstown, is back up for auction, but with a far more conservative guideline of €9,000 per acre, through CCM Properties.
Those guide prices give an indication of how far farmland has slumped in value, from highs of €35,000 per acre in 2006/07.
Back in 2004, the property bubble market was only gearing up. Either way, the land remains the same, and this farm is a fine property, says Eamonn O’Brien who will auction the property, along with Jim O’Brien of the Bandon office, in a choice of lots, on November 24.
The sale in 2004 included 50,000 gallons of quota, which sold well due to high demand at the time. Now this former dairy farm sale includes a yard with modern facilities for up to 70 cows and 30 weanlings.
Flagged as a grassland farm, the property could suit someone with milk quota from the New Entrants Scheme, says Eamonn O’Brien. In three divisions, it is already set up as a dairy enterprise.
Or the farm can be offered in four lots, three of which comprise the main bulk of the land, with a floating portion of 10 acres that can be added to any of the three options, says O’Brien.
These are the yard and 24 acres in one lot; 18 acres in lot two; and 24 acres in lot three, all of which have road frontage, all guide priced at €9,000 per acre.
