73 acres in 'Equestrian Country' generates plenty of early interest
The 73-acre forestry holding in South Tipperary hit the market just before Christmas.
It will be fascinating over the next number of weeks to see just how much interest there will be in a 73-acre forestry holding in South Tipperary that came on the market just before Christmas with Cashel Marts.
The 72.87-acre farm is located in the townland of Cooldine, just a kilometre from the village of Killenaule and approximately eight kilometres northeast of Cashel.
This is an area normally associated with some of the best of grassland in Munster, as well as some of the most prestigious horse-racing operations in Ireland. Indeed, this property was used for grazing back in the day and the land around it is of very good quality.
Today, however, it’s a fine piece of forestry land that seems to fit the current burgeoning investor sector for farmland. Over the last decade, low interest rates have sparked a renewed interest in the concept of putting one’s money in a ‘land bank’.
The returns are never earth-shattering but the security is a big draw, and if there is any potential added to that simple formula, then the attraction becomes all the stronger.
In this case, the farm has been accorded planning permission to build a home. The permission has lapsed but the fact that it was given clearly offers potential.
“Part of it was replanted in 2018 because it was infected with ash dieback,” explained Alison De Vere Hunt of Cashel Marts. “The original plantations were in 1996 and 1998...There’s also great road frontage with it, and it has three access points, as well having a good internal road system.”
There’s a stable yard in front of the forestry. It’s quite old, with a number of stables but it has a water and electricity supply.
“The interest has been good,” said Ms De Vere Hunt. “The property only went up just before Christmas Eve but already there have been a number of email enquiries on it over the Christmas period.”
The asking price of €350,000 (putting it at €4,800/acre) seems to be right on the money - but don’t be surprised if there will be more than one prospect taking a serious look at this holding.
