50 acres for €750,000
And farmers with clean bibs and little borrowings should find that leveraging for land isn’t as difficult as might be imagined.
With a strong international grain market, and the likelihood that milk prices will hold firm, farming is once again in the sunshine.
So, adding on and increasing the acreages of holdings makes sense, when you’re getting land for a third of the cost of four years ago.
And interest rates are still on the low side, although increases are forecast which will affect affordability.
This week, a 50-acre holding on the outskirts of Cork city is being offered by agent Paul O’Driscoll, who has recently re-joined Thos J O’Driscoll, along with land specialist Christy Buckley.
The property at Killydonoghue is just off the Glanmire interchange of the M8, the main Cork-Dublin motorway, and will bound the proposed northern ring route which will complete Cork city’s ring road system.
This leaves the property well positioned in terms of future development.
However, road building plans could be set back indefinitely due to the recession, which means the land falls into the black humour category of “development land with agricultural potential”.
Its potential hasn’t been lost on farmers, says Paul O’Driscoll, who’s been fielding calls and sending out maps, and expects an offer to be made in the short term.
A price guide of between €15,000 and €16,000 per acre is given. The land is for sale by private treaty.
Good quality tillage ground, it’s presently in stubble and is laid out in one block in eight divisions.
The land has limited road frontage to the north and is bounded by a glen and stream to the east.
The property includes an old farm house and outbuildings which, while derelict, could defray some of the expense of acquisition, if sold off.
The house and old yard are located close to the road on the northern boundary.
With 50 acres on offer, the overall guide price is in the region of €750,000.
