Small farms set to test property market
The first one is a 12-acre residential farm in Grancore North, near Clonakilty. The roadside property is just five minutes from the famously tidy town, according to selling agent Ernest Forde. The dwelling is a traditional two-storey farmhouse.
“The old residence has character but is in need of refurbishment,” says Ernest. “There are 12 acres running to the back of the house.”
The land quality is good, say the agents, and is laid out in five divisions, mostly pasture.
“There is a little bit of waste at the far end of it but that could be planted.”
The kind of client who will buy such a holding is more likely to be a hobby farmer or someone in search of a house with enough land for a level of self-sufficiency.
According to the selling agent, such a property doesn’t come up every day of the week and the interest level should therefore be good.
“This type of property so near the town doesn’t come up that often and when they do, there’s generally a bit of a take for them.”
Clonakilty is 4.5km away.
The expected price level for this property is in the region of €250,000 — a somewhat bullish expectation but this holding has a few strong characteristics that should see its value maximised.
The agents are also open to the idea of splitting the holding into the house with an acre of land and the remaining 11 acres in a separate lot.
The second holding is a non-residential 22.5-acre farm in the townland of Reanies, near Nohoval (4km away). It’s laid out in four divisions and is currently under stubble.
“It’s on the way down to Nohoval Cove,” says Ernest. “It would be a good tillage area and the land would be of good quality – fit for any sector really, even though it has been tilled for a number of years.”
The asking price of €10,000-€12,000 per acre is reasonable for this roadside holding. Considering the ease of access and the location, it would seem to be a decent prospect. Cork city is only 20 minutes away and the surrounding areas to the north, east and west of it have plenty of strong active farmers, many of whom would logically be on the lookout for some additional land.
The boat seems to be rising across a few different sectors right now, with dairying showing real signs of turning around over the coming 6-12 months and the bloodstock industry still performing well.
At the same time, it’s a perfect prospect for a hobby farmer or even someone with ambitions in the equestrian area. If aesthetics count for something in the eventual price, it’s worth noting the location is one of great beauty — the farm overlooks Nohoval Cove and Reanies Bay.
The road frontage is good a few hundred metres of it, says the agent: “The road frontage is good but it isn’t massive as the land runs back in a long rectangle from the road.”
These kinds of holdings were enjoying very strong turnover about two years ago: smaller roadside properties with good access to larger markets.
Led by a soaring dairy sector, they were ideal stepping stones for an industry gearing up for the open market. While that gold rush has gone, there is still plenty of life in a resurgent agricultural market.
These two farms will be worth keeping an eye over the coming weeks and months to see where they end up as they will be interesting markers as to where the land market is going right now.
