Prime Cork farm at €1.6m

KILLAHORA House at Glounthaune, Co Cork, is to go to auction this day week, and the sale of this prime farm about seven miles east of the Cork city centre should seal market sentiment in the south for 2010.

Launched in September through Frank Walsh of Property Partners O’Mahony Walsh, the fine grazing farm with period residence and outbuildings would have made stratospheric amounts in the boom, but it is now back to sensible, agricultural levels. That being said, however, the property is still a very rare sale, not cheap at €1.6 million, but offering good value.

The property has received a considerable amount of attention, with a number of bids in the past three months. The vendors are now keen to bring matters to a head, and the property is going to auction at Elm Tree House on Thursday, December 16 at 3pm. Solicitor for the property, John O Lee, with offices in Cork and Kinsale, says interest has been very strong.

So it’s looking positive for the 100-acre grass and tillage farm, which sits on the boundary of Glounthaune village, one of the more sought0-after and highly accessible areas of the city, with excellent road and rail links.

The house overlooks the waters of the harbour and while it needs considerable work, it is bound to attract the would-be farmer, as well as the serious agriculturalist.

The property was price guided at €2 million initially, but the reserve is now pitched at €1.6 million, and the agents will offer the property in lots, and in the entire.

One of a number of large estates on south-sloping hills near Cork city, the farm is in a balmy spot with plenty of early grass, and while it’s been let for some time, the property is in good heart, and suitable for tillage (parts of it grew maize this year).

The house, yard and a former orchard comprise an eight acre lot for which there has already been strong bidding, and includes an old gate lodge.

The rest of the land will be offered in two lots. The first is 40 acres of tillage ground, after maize, with road frontage on two sides.

The second lot comprises 52 acres of pasture running below and behind the house, with country road frontage.

The fourth lot is the entire property.

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