138-acre farm near Carrigaline likely to sell for about €2m
There is going to be a huge amount of interest in an exceptional and rare piece of agricultural land just launched on the market with Cork-based auctioneers Cohalan Downing.
Located in the fertile lands of South Cork in the townland of Aghamarta, near Carrigaline, the 138-acre non-residential holding represents a very rare opportunity for someone to purchase a substantial farm in a strong location.
It’s one of the largest holdings to come to the market so far this year in Munster, and its sale should represent a headline price for the Munster and Irish land market.
Situated just to the east of the fast-growing commuter town of Carrigaline, and about 4km from the chic coastal village of Crosshaven, the farm land is in excellent condition throughout, according to selling agent Maurice Cohalan, with practically no waste.
“It’s splendid land,” he says, “situated in the heart of South Cork. It’s all in perfect condition.”
Cork city centre is just 20km away, while the industrial zone of Ringaskiddy is 10km away. Several market and commuter towns are all within easy reach of this farm, including Cobh, Carrigtwohill, Midleton and Glanmire.
Carrigaline itself is a large town of close to 20,000 inhabitants, but still often referred to as “the village” that it was only a few decades ago. There’s plenty of intensive agricultural activity going on all over the fertile rolling landscape that surrounds it.
This farm is in the perfect position to gain the maximum level of interest from the many progressive farmers in the area, and its size is sure to attract plenty more suitors from outside the area.
“It’s a rarity because of its size and where it is,” says Maurice. “We’d expect a lot of strong interest.”
The land, he says, is laid out in pasture in the main, but this kind of quality land will lend itself to any agricultural endeavour.
The topography is a west-facing slope, and the lands (which were once part of an even larger holding) cut an attractive presence, surrounded by mature trees and hedgerows.
“Dairying is the main activity here, but land in South Cork is special, because in terms of grain, you have early ripening.”
There is also exceptionally good access to the farm, which is located just off the R612 main road connecting Carrigaline and Crosshaven.
“It has massive road frontage,” says Maurice. “It extends to 690m, and it has four separate access gates.”
Despite it being situated in what one might consider a commuter belt of Cork City, there are absolutely no indications that this holds any kind of promise value or potential in terms of development land.
“It’s purely agricultural land. I don’t think there’s any possibility that it’s ever going to be zoned or anything like that.”
Another strong hook for this property is that there are entitlements going with it.
At the moment, these are worth in the region of €50,000 annually, and the selling agents have further details for anyone who wishes to enquire about the precise figure.
But it is somewhat more difficult to arrive at a precise figure for the sale value of this farm.
Given how the sales of large tracts of quality land close to Cork City have fared over the last year or so, one might be forgiven for expecting a sale price close to €20,000 per acre.
However, the guide price is set at about €15,000/acre by the selling agents, a target that may well be exceeded in the coming weeks.
