'Strategic' 42-acre Clogheen greenfield site near Apple Cork looks plum

Set to exceed Savills €750,000+ guide, this land is likely to be eyed up by developers, speculators, farmers and funds looking for a profitable place to park money

Thu, 20 May, 2021 - 17:00

Property Editor Tommy Barker reports

Land billed as a "strategic greenfield landholding" just over 1.5km from Apple’s European HQ in Cork City looks likely to exceed its guide price given its future promise.

Currently unzoned for development, the 42 acres at Clogheen, between Hollyhill and the rapidly expanding Kerry Pike, is being marketed at around just €750,000 by agents Savills.

However, it is likely to be eyed up by developers, speculators, farmers who’ve already sold land for development — and funds looking for a profitable place to park money for a period.

The guide, broadly equivalent to just €20,000 an acre, now looks likely to be exceeded, admits Peter O’Meara of Savills, who describes the quantity as substantial and the quality as excellent agricultural land with frontage to two roads.

The setting is at Ballysheehy, Clogheen, by the crest of a hill just east of the old city/county boundary, 1.5km from Apple’s HQ, which employs thousands already and was significantly expanded two years ago to 1m sq ft. The site has 600m frontage along a road to Blarney and 300m frontage to the old Kerry road through Kerry Pike.

A woman heading into work at the Apple plant at Hollyhill, Cork. Picture Dan Linehan

It’s current zoning status reflects back to 2014 and Cork County Council’s development plan, which may be reviewed by the city council, which controls the future jurisdiction and direction of this very accessible holding.

Its unzoned/greenbelt status would allow for recreational uses or one-off housing for qualifying applicants but, as it heads towards the guide price in active bidding, it’s certain to be bought for higher-end uses in time, leased for farm use and ‘banked’ until zoning changes.

Savills says this is a strategic location — easily reached from the city, Blarney, Hollyhill, Ballincollig and the N22 Cork to Kerry road, while the main Cork to Limerick route is 9kms north via Blarney or Blackpool — and simply comments that “there may be some development opportunity in the future given the land's proximity to the city centre”.

Rathpeacon House and farm made c €1.7m vis Sherry FitzGerald O'Neill and SF Country

The offer comes after a sale has closed on Cork's Rathpeacon House, a small Georgian home on the other side of the N20 Cork to Mallow road, on 77 acres of farmland. Put for sale two years ago for €2.45m via Sherry FitzGerald O'Neill and SF Country Homes, it's understood to have fetched c €1.7m.