Farm Ireland
Independent.ie

Friday 9 December 2016

Cork sale with a twist in the tale

Jim O'Brien

Published 05/10/2016 | 02:30

The auction of a 135ac farm on the outskirts of Midleton looked like a case of Goliath triumphing over a series of little Davids when local big employer and economic mainstay, Irish Distillers beat off all comers and bought the property as an entire after it was initially offered in lots.

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However, in a neighbourly twist to the tale it appears that Goliath is about to share the spoils with the Davids.

The farm, located on the edge of Midleton at Park South and Cahermone was originally for sale as a 140ac farm but a 5ac piece was bought privately before the auction.

The remaining lands made up of 119ac at Park South and a 16ac tillage parcel at Cahermone were bought at auction as an entire by Irish Distillers for €2.29m or a whopping €17,000/ac.

The 16ac are described by Eamon O'Brien of selling agents CCM (Cork Marts) as top class limestone lands while the 119ac was made up of good and mixed ground with 111ac split equally between tillage and grass.

A section of the farm bordering the Dungourney River is prone to winter flooding.

The original homestead, a derelict farmhouse and a range of fine, cut-stone traditional farm buildings was also for sale along with a yard.

Thanks to its proximity to the town part of the farm is included in the Midleton town development plan.

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Multiple bidders

A 45ac parcel is zoned industrial while the 3ac around the farmyard is zoned residential and a further 50ac zoned for amenity.

Eamon O'Brien had a full house for the auction and when the farm was offered in different lots the bidding was hectic.

After two rounds that saw multiple bidders contend for the lots and two bidders showing interest in the entire the combined lots were making €1.635m while the entire was making €2.05m.

Following consultation with the vendors it was decided the entire was the only game in town whereupon the two bidders for the 135ac holding fought it out until the hammer fell at €2.29m and Irish Distillers, the won the day.

However, according to the auctioneer, since the auction Irish Distillers have entered negotiations with certain local groups and individuals who attempted to buy some of the lots.

These include a local sports organisation interested in a parcel of the ground for sports facilities, a local group with an interest in developing the house and the farmyard and a local farmer who was outbid for the 16ac of tillage.

You can't beat good neighbours.

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