Fertile tillage farm has great buyer appeal

Fertile, south-facing and highly accessible, this fine, 165-acre chunk of south Cork tillage land should have a wide spectrum of buyers for joint selling agents, Irish and European and Savills.
Fertile tillage farm has great buyer appeal

The sale boards went up only last week, but there’s serious interest, says Trevor McCarthy, of Irish and European.

The land will be sold in lots — allowing manageable acquisitions for expanding farmers.

It’s located within a mile of Carrigaline town, but it will be mostly farmers who will walk this land. The 2011 Local Area Plan rezoned this land to agricultural use, with only a portion of land, 3.7 acres, within the development boundary of Carrigaline, but there could be mid- to long-term value in this portion, which is within the largest lot on offer, lot 2.

This comprises the bulk of the land, 126.5 acres, with lots three and four amounting to 24.37 and 14.34 acres, respectively.

The property is part of the portfolio of Manor Homes — a house-building company now in receivership and with debts of €170m.

The building firm, headed up by Joe Moran, famously purchased Charles Haughey’s Kinsealy mansion for €45m (it’s expected the Gandon mansion will return to the market with a much-reduced price, perhaps even as much as one-fifth of the purchase price).

The Castle Farm land is located between Church Road and Fernhill Road, and this substantial amount of road frontage allows an easy subdivision, but, conversely, heavy-hitters may purchase the property in the entire.

It’s on offer at €2.7m — just over €16,000 per acre — one of the highest quoted guides so far this year, and a testament, Trevor McCarthy says, to the quality and uniqueness of the holding.

“We’ve had good interest, so far. The signs went up last week, and it’s easily divided in lots, although I wouldn’t be surprised if it sold in one lot. The tillage on it is excellent and the elevated areas are good for grazing. It’s ideal,” he says.

The farm is residential and includes a 1,295 square foot, four-bed bungalow located, along with a range of outbuildings, in the zoned corner of lot 2, near existing residential developments.

This lot has access onto the Currabinny road, but also has access, via right of way, onto the Rock Road.

Lots three and four have their own, separate access points.

*Another substantial farm, in the Monkstown area, is believed to have changed hands recently for a price in excess of €15,000 per acre.

Although off-market, the 150-acre-plus farm may have netted one of the year’s top prices in what can be conservatively estimated as a €2.25m sale.

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