Farmers eye up boom’s remains
As civil servants sift through the wreckage of the economic disaster, farmers on the ground are eyeing up the value of what’s coming back on the market from the residential property wreckage.
Good quality farmland which sold for millions is coming back on the market at agricultural values — not notional values, but the true economic values.
Joe McCarthy of Irish and European is having a run of land bank sales on the outskirts of towns and villages, and this week offers a very attractive parcel of land at Castleredmond, Midleton.
Strategically located on the Midleton to Youghal road, and bordering a fairly built-up area, this prime tillage land includes about nine acres, of which 7.8 acres is zoned high-density with planning permission for 44 houses. This will be sold separately, if interest is good, says Joe McCarthy, who gives a guide of €250,000 for this lot — an average price for a half-acre site four years ago, but a sum which will buy a hobby farm now. With the zoning, there’s the likelihood of achieving planning for a house on the site, says McCarthy, as this part of the land fronts onto the Rocky Road, a rather salubrious residential area.
Meanwhile, the remainder of the land is being offered at €11,000 per acre, and it’s ideal for tillage, being currently under barley, the agent says. It also comes with frontage onto two roads and is close to Midleton town.
