St Edmundsbury farm on 274 acres is brought to market in three lots
RECENT months have seen more and more parcels of one-time development land come on the market around towns and villages as lending institutions and NAMA seek to liquidate the assets of the deeply indebted.
The sale of a 274 acre parcel of ground on the outskirts of Lucan in Co Dublin represents one of the first big sales of such property around the capital.
The farm, once the property of St Edmundsbury Hospital, was most recently owned by Marese Ltd, one of the companies associated with Sean Mulryan's Ballymore Properties.
NAMA put a charge against this property in January this year and the holding is to be sold by public auction with a guide price of €15,000/ac.
Comprising good arable land with mature trees and timber, river frontage and a range of old buildings the farm is on the very western edges of the city.
It is bounded by the outskirts of Lucan, Luttrelstown Golf Club, the Hermitage Golf Club and the River Liffey. One portion has planning permission for the construction of a five-bedroom house.
Enjoying extensive river frontage on to the Liffey and on to the old N4, the ground is described by auctioneer Paddy Jordan as the best of land and is currently under tillage.
Since purchase from the hospital, the land has been rented to local farmers and farmed actively over the years. Laid out in 14 divisions, the lands slope northwards with a natural bank and are serviced by an internal roadway.
The farm will be offered for sale in lots with lot one consisting of 268 acres at St Edmundsbury on the edge of Lucan with frontage onto the River Liffey.
The property is currently accessed via an existing entrance to St Edmundsbury Hospital, by an agricultural gate off the Old Lucan Road and a service road to the Hermitage Golf Club.
An old farmyard adjacent to St Edmunsbury Hospital was originally the dairy yard and comes with a range of buildings in disrepair.
There are also a number of sheds and silage pits including a 30ft x 60ft enclosed shed with silage walls and concrete base, a 30ft x 60ft enclosed shed with concrete base and three open silage pits on concrete.
Other buildings include a farm manager's residence in the yard in very poor repair and an old derelict residence and yard located in the middle of the holding. A small two-storey gate lodge located inside the main entrance is included in the sale.
Lot two consists of the derelict Delville House on six acres. This part of the property, located adjacent to the Hermitage Gold Club, includes planning permission for a five bedroom, two- storey house extending to circa 4,693 sq ft.
Lot three encompasses the entire 274ac and buildings.
In a mixture of irony and déjà vu, the pre-sale publicity describes the sale as representing "an ideal opportunity for those speculators, investors, land bankers, institutional, educational, sporting organisations and farmers looking to acquire assets with long term growth potential combining location, profile and quality."
The property will be sold by public auction at the Clarion Hotel, Liffey Valley at 3pm on Thursday, September 26.