‘Exceptional’ Cork City farm set to exceed €20,000/acre
On June 14 next at 3pm, there is sure to be a large and expectant crowd at Cork’s Rochestown Park Hotel for the auction of a truly exceptional farm holding.
Located close to Cork city in the townland of Monees, and comprising 101 acres in total, the residential farm coming under the hammer on that day is an exciting prospect.
The holding is of purely agricultural value but, given the location on the boundary of an expanding city, there is no doubt that hope value will play a part in deciding its value on the open market.
The powerful appetite for good land close to a large city has been demonstrated time and again recently.
The rarity of a farm of such size coming for sale points towards the possibility of an exceptional price being achieved, but one can never tell until the auction day.
“You’d say that there would be potential there for more than agricultural value but, as it stands, it’s only agricultural land with a two-storey farmhouse on it,” says auctioneer Michael Barry of selling agents Dick Barry & Son auctioneers in Fermoy.
“The location is incredible, and we’d be hopeful that that will be reflected in what it will make on the day.”
The farm in this executor sale is being rented at the moment. The farmyard and buildings are extensive, according to the selling agents. Although the buildings are somewhat dated, it would have been a very strong operation, historically.
“In any case, the farmyard itself is not so much the big appeal as the location of such a sizeable farm holding.”
There is plenty of roadside access to the property, most notably from the main Douglas-Carrigaline road (N29) running along the southwestern side, with the main laneway entrance to the farmhouse and yard leading from the L6477 that forms most of the boundary of its north-eastern flank.
Rather typical of the area, the land is of very good quality.
“The quality of the land is absolutely top class,” says Michael.
It would be suitable for any sort of agricultural enterprise, be it grazing, tillage, equestrian, it’s all top quality land. There’s approximately two thirds of in tillage and a third of it in grass, all in one roadside block.
Although this land has not been zoned yet, the significance of its location is that the entire farm falls within the new Cork Development Boundary, on the outskirts of the city, and between a large residential and commercial suburb and an important industrial zone to the south.
There are no entitlements going with the sale.
In terms of value, it will be difficult to gauge.
The house alone in this part of the world would be capable of fetching over €1 million.
It is a four-bedroom, two-storey residence, in mature gardens set well back from the road. According to the selling agents, it is well maintained and in good condition.
“There’s a huge volume of enquiries already,” says Michael, “Even before we fully advertised it. We’re expecting a price well north of what one would consider a high agricultural value.
“Outside of it being a very good agricultural farm, the location of it pushes it into a different league.”
In the last year, smaller holdings on the outskirts of Cork city have registered prices per acre in the region of €20,000.
“We’d be expecting a lot more than that,” says Michael.
“I’d be surprised if it doesn’t achieve something like that, but when you’re going to auction, you just don’t know.
“It’s an exceptional property, so we’re very much looking forward to the auction.”
