Nice farm to land in Rathcormac

In four lots, this property on outskirts of village is quality, writes Conor Power.

Even though all the indications are that a relatively high quantity of land is coming onto the market in 2015, so far, demand continues to outstrip supply.

The demand/supply ratio for the larger holding is even more pronounced, with the only other mitigating factor being the availability of cash or finance to purchase.

This makes farms such as this 86-acre property on the outskirts of Rathcormac village in north Cork such an interesting and vital property of the type that set markers for the general state of the agricultural land market.

Rathcormac is a very well situated village on what was the main Cork-Dublin road; a couple of kilometres from the M7 and just 20 minutes from Cork city.

The property in question is being offered in four lots: the first being the entire holding.

Lot 2 consists of 45 acres of roadside land. Lot 3 is a 40-acre roadside land holding, and Lot 4 consists of a modern luxury bungalow on one acre.

According to selling agent Michael Barry of Dick Barry & Sons in Fermoy, the quality of this land is of the highest level: “It’s top quality land,” says Michael, “there’s something like six or seven gates onto the road altogether.”

The proliferation of access points from the public road makes it a very convenient location but also means that it lends itself to dividing up into lots.

Typically, properties like these will more often sell in smaller lots with the competition being greater, but the rarity of the larger holding means that there will be strong interest in that too.

The property is being sold by the executors of the late Margaret Hegarty — a well-known Rathcormac resident.

And one of the fields (on the 45-acre lot) has been in use for over 60 years by the local coursing club, for coursing events.

The bungalow itself is an excellent property — a modern dwelling, priced at €300,000.

On the face of it, the guide price of €12,500 per acre would appear to be conservative, particularly given the added building potential of the land; the land is not zoned, but it would have some short-term planning potential for one or possibly two houses, according to the agents.

This exceptionally rare residential farm doesn’t have any entitlements and is being sold jointly with Sam Daunt of Savill’s in Cork city.