Offers on 'trophy' farm near N25 exceeding €16k per acre

The 39.4-acre non-residential holding in East Cork is a prime piece of grassland in one of the most sought-after parts of Munster. File Picture.  

Described by selling agent Éamonn O’Brien of CCM Property Services as a “trophy farm”, a 39.4-acre non-residential holding in East Cork is the kind of farm that could set a strong marker for the year to come.

This is a prime piece of grassland in one of the most sought-after parts of Munster and there have already been a number of offers on the holding.

“It started out very well,” says Éamonn. “It opened at €15,000/ac and it’s gone over €16,000/ac at the moment. 

"We’re probably only going to let it run another fortnight or so before closing.”

The land was owned by two bachelor brothers who had land in nearby Carrigtwohill and who had been approached by Cork County Council to sell some of their land to allow for a road-widening project. 

The story goes that they initially refused but were tempted by the quality of this piece of ground, which was offered to them as a deal-breaker.

So it isn’t surprising to find that, just as those previous owners had recognised the exceptional quality of the property, so too does the current market.

“There are currently three different people bidding on it,” says Éamonn. 

“I suppose the attraction is that it’s a quality block of land that’s easily accessible.”

The farm is accessed via a minor road just off the N25 (Cork-Waterford) at the point where it forms one side of the very scenic Loughaderry Lake. 

Castlemartyr is just 2.5km to the east, Midleton is 9km to the west and Cork city is just half an hour’s drive away.

“The land has all the attributes of the warm deep soils that are found in East Cork and that are so rewarding when it comes to the harvester running over it,” says Éamonn, “whether it’s for maize or for silage or for corn, it yields well.”

Although this holding is all in one field and it’s all in grass, one of the adjoining fields is in tillage, underlining the versatility of the soil here.

“For the grassland farmer, it’s a piece of land that gives you an extra couple of months’ production...you can go out there at the end of January and be there until the beginning of December.

"From a tillage point of view, the trailers are heavier pulling out of the gate; it’s more rewarding and you’ve more produce to sell.

“There’s also the fact that there’s no waste on it,” says Éamonn. “It’s bare ground without any buildings and it’s in one field.”

The rent from this land last year was of the order of €300 per acre. 

With banks now closing up shop in Ireland and offering little opportunity to investors, this is a piece of land that could interest a pure investor just as easily as it is enticing the attentions of farmers.