Home of Sheehan
The disposal of the two farms, which comprise 204 acres in total, with exactly 102 acres apiece, followed a move by Bank of Scotland on the waste-recycling Mr Binman business owned by the Sheehan family, who also own the two farms. In 2011, KPMG were sent in as receivers to recover some of the €53m of debt owed by Mr Binman and, as a result, the farms were put up for sale.
The most recent development in the saga, which saw the collapse of the Munster-wide business which employed 350 people directly and about 200 sub-contractors externally, was the purchase of the waste business by a Limerick consortium, including Dillon Waste and Recycling managing director, Brian Dillon, for an undisclosed sum.
A cattle breeder and businessman, Martin Sheehan and his brother, Dr Michael Sheehan, are very well known and highly regarded breeders in Angus and Charolais circles. At their most recent sale in April the buyers, who came from all over the British Isles and Ireland to purchase their Luddenmore stock, included the Gigginstown herd of Aberdeen Angus owned by Michael O’Leary of Ryanair.
Close to Sheehan’s Cross and on the Bruff Rd, the properties are guide priced at €12,000 per acre through Sam Daunt of Savills, along with Isobel O’Regan, director of Savills, Cork.
The farms are all in pasture, and have been used for grazing the Sheehans’ pedigree herd.
Carriganattin, which was purchased in 2007 through agent John de Courcy for over €5m, includes a five-star shed complex that can house up to 200 cattle, with slatted pens, automatic scrapers, and dedicated calf and calving sheds.
The building alone is estimated to have cost in the region of €300,000, according to local sources.
Rumours also abound that the purchaser of at least one of the farms may have family connections locally.
Either way, it’s likely the purchaser won’t be blind to the quality of what’s on offer.
Both farms are ideal for drystock or dairy operation, both come in top class condition, without waste and with excellent road frontage.
The farms are 30km from Charleville, and about the same from Tipperary.
