Attractive 73-acre farmstead expected to sell in three lots

A year ago, this farm, at Rathcoole, Mallow, Co Cork, was on the market as a private treaty sale — now the 73-acre holding is back for sale, only this time by auction.

And that will be held two weeks from now, in the Hibernian Hotel, Mallow, though selling agent, Christy Buckley (on Friday, August 8).

With 73 acres and 74,000 gallons of quota, in a great land-to-milk ratio, the property has a pre-auction price of €900,000 for the entire.

However, it’s likely the farm will sell in lots, as it divides easily into portions of 29 acres, and 11 acres; 26 acres with yard and residence; and five acres. The farm also has an SFP of €10,500.

The property, which is close to Mallow, has excellent road frontage — over half a mile, says Christy Buckley, and is a prime dairy farm, albeit it has not been operated as such in the last two years.

It comes with a good house, a good, modern yard with six-unit milking parlour, and slatted sheds.

Given the overall price, the per-acre price is now €12,000, down from the €13,000 plus quoted last year in the private treaty sale.

So, it’s a second opportunity for local farmers to acquire extra land for silage or replacements, or even an extra farm.

The farm includes a four-bed residence in good condition, close to the village of Rathcoole, on the Banteer road out of Mallow.

The land also has a stream running through it, providing unfailing water, says Buckley.

Meanwhile, Christy Buckley has also concluded a number of recent sales, and, in particular, a farm that was almost a hardy annual at Scart, Ballyclough.

Although not willing to mention a price, Christy Buckley did say that it made in excess of its asking price of €1.35m.

The overall result, on the baseline figure, is a per-acre price of €11,000 — not too shabby in today’s market and with the indication that it made a bit more.

Other sales by the Ballinhassig-based agent include 23 acres of strong dairy land at Kilmona, Grenagh, which made in excess of €240,000, and 62 acres of tillage land at Lyredane, Grenagh, which made close to €560,000 — but included 12 acres of heavy ground.

And there were other sales in Ballinhassig, where 38 acres sold for €540,000 as part of a Nama sale; and a farm at Glenagoul, Rathcormac, Co Cork, sold for in excess of €600,000, for 54 acres to a neighbouring buyer, a businessman.


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