Offers of €1.7m likely for 214-acre south Cork farm

PORTIONS of this south Cork farm have been sold over the past ten years, but now 214 acres are for sale in one lot, through joint agents, Ernest Forde, of Hodnett Forde, and Joe McCarthy, of Irish and European, for offers in the region of €1.7m.

Figures like this are rarely bandied around these days. With commercial property in the doldrums, you could buy a prominent Dublin city-centre premises for that money, so it’s a sign of the vigorous farm-land market that values like this don’t turn a hair.

But it’s money that has to be earned, and the quality of this Coolkirky, Riverstick farm is sure to be examined by prospective purchasers.

Good land in a great location, it needs to be upgraded, and buyers will factor in the cost of draining some of the heavier acres and improving the quality land — which is described as arable, and suitable for dairying, drystock or tillage, says Joe McCarthy.

A residential farm sale, it comes with a simple, three-bedroomed farmhouse (the original Coolkirky House is still standing, but in a derelict condition in the farmyard) and the farmhouse, while modest, is in good condition.

The yard includes a range of modern buildings and an older, stone farmyard, which offers ready-to-go facilities for a new owner.

Right now, the land is in tillage and drystock, but was used for dairying some time ago, says Forde, and not to a highly productive extent.

Part of the heavier portion of the lands has been given over to forestry — about 26 acres.

In all, there are 135 excellent acres, say the agents, with 23 of that in barley and the remainder in permanent pasture.

The heavier acreage will require some work, they say, or a buyer may increase the planting in the remaining 40 acres.

Either way, such a large block is considered a rarity and, therefore, will garner a lot of interest from outside, as the unit could operate intensively in its own right.

The quality of the farm buildings is good and the holding is in an ideal location, close to Kinsale, Cork city and local amenities, making it an attractive buy.

Broken down, the average per-acre is less than €8,000, inclusive of house and buildings, which brings it considerably below the bullish, €12,000-plus being paid for all-round arable land in the region.

Forde says it represents an average of €10,000 per acre for the good land, and down to €4,000 per acre for the heavy ground.

A retirement sale, the farm is being disposed of by private treaty, and the agents are open to options on how they sell it, but Forde says it will be purchased in one lot, even though it could be split up for sale.

The forestry is close to the roadside, and, with the internal farm roadways, division is possible, but not the best option, he says.

A dynamic buyer will see the benefit in buying in one lot, says Forde, and will factor in the long-term benefit of investment in the poorer parts of the land, which have the potential to be highly productive with drainage and reseeding.

The farm is in one tidy block and has good road frontage too, says Forde, with the internal farm roadways and a residence for ease of relocation.

Carefully laid-out in well-proportioned divisions, it has 23 acres under cereals and 26 acres under forestry, with premium attached and 15 years remaining.

The farmyard has a range of outbuildings, including a cattle shed that measures 60’x 45’, a barn with lean-to that measures 60’ x 42’, a machinery house and a store that measure 60’ x 45’, while the old yard has a range of stone outbuildings, including seven loose boxes, calf houses and workshop.

The residence is a modern, three-bedroomed bungalow with a living room, kitchen/dining room, three bedrooms, en-suite master bedroom and bathroom, as well as all the usual on-site services.

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