95-acre piece of Golden Vale with added benefits
Aerial outline view of the 95 acres for sale near Castlemahon village, Co Limerick
New to the market with Limerick auctioneers GVM, a 95-acre farm 4km southeast of Newcastle West and the N21 presents an interesting opportunity that will tempt farmers and non-farmers alike.
The holding is in the townland of Mahoonagh More, adjoining the village of Castlemahon. The property enjoys a good deal of road frontage, with additional access on its western side via a right-of-way entry.
Described by selling agent Tom Crosse as “an outstanding roadside holding... with frontage to two roads and ideally located immediately adjacent to the hub of Castlemahon village”, the farm is in one well laid-out block, well fenced all around and with a mains water supply and electricity connection.
In terms of land quality, this is an area renowned for good limestone acres and this farm enjoys some of that tradition, blended with land of more moderate quality that holds plenty of potential. Should the next owner invest in drainage and improvements, the property could be brought up to a very strong level.
“About two thirds of it would be very good limestone land,” says Tom, “with the rest of it in need of drainage to bring it up to the same level. It has a great location and it falls into the village of Castlemahon, so there’s obviously site potential in the village... it would be a good investment play.”
The land would be most suitable for dairying or beef farming – the mainstays of the local agricultural scene.
The farm contains an old dwelling – a two-storey traditional farmhouse that is in need of complete refurbishment but which offers potential in terms of earnings, particularly when Limerick City is very much a commutable distance away (approximately 40km).
The price guide of €750,000 (€7,900 per acre) should certainly attract attention as one would be hard-pressed to find such a large block of good land in this part of the world at this level of price. For somebody who is willing to put the work and money into bringing the entire holding up to its highest standard, it should make a lot of sense.
The potential for a site is a genuine possibility but the refurbishment of the existing dwelling offers the direct possibility of adding income value to the property. Another string to its bow is the existence of entitlements, which are worth €7,500 per year.
The number of enquiries so far has been encouraging, according to Tom, with farmers and non-farmers expressing an interest in this intriguing property – a large chunk of Golden Vale with added benefits.
