30-acre farm in prime location up for grabs at knockdown price
It marked a high point in land sales and, some would say, the property madness, sold at auction after competitive bidding for almost twice its reserve — which was put down to a heady mix of property bubble and the residential, commercial and development potential of the property, at Ballinvoultig, Waterfall.
It is now back on the market with Denis O’Donoghue of Savills, and while its attributes remain the same, he’s seeking €1.1m.
Less than five minutes from the Bishopstown Road roundabout and the start of the city’s green belt, the property has excellent accessibility, just off the main Cork-Bandon road.
There’s a unique commercial element in a regulated location — it could make a headquarters or residence for a home-based industry or service. There’s land in pasture with road frontage; a four-bedroomed, brick-built bungalow of just under 1,300 square feet with a half acre site; commercial units with combined area of 5,000 square feet on 0.62 acres; and three building sites of 0.77 acres each, with full planning for a 3,000 square foot house on one of these sites.
The property lends itself to disposal in lots, and the agent is open to offers in any combination, including the entire property.
He says there’s been huge interest, and the farm appeals to hobby-farm buyers, or a business person who can see the long-term value.
The land prime, south-facing pasture with 190 metres of road frontage, is offered at €500,000 for 30.50 acres — the equivalent of €16,639 per acre. The bungalow with a half-acre is guide priced at €240,000.
The commercial units are guide priced at €150,000. The two modern sheds have roller shutter doors, parking and hard standings for HGV vehicles, and a farm shed with lean-tos could have various uses. The yard includes a ruined old stone dwelling which may have conversion potential, says the agent.
Lot 4 is three building sites of three-quarters of an acre each, guided at €70,000 for two and €90,000 for the site with planning permission. The zoning is A2, which allows housing for rural dwellers only. Finally, the entire property is on offer for €1.1 million — good value when you consider the original price.
