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Farming

Boom time block of development land back on the market in Offaly

Former development land continues to be released on to the market at agricultural prices.

While most of this ground is offered for sale in small parcels, a substantial property extending to 140ac on the outskirts of Edenderry is back on the market by private treaty.

Auctioneer Tony Mulvin, in association with REA Coonans Maynooth, is handling the private treaty sale of the former development land around the north Offaly town.

Described as mixed quality ground, it comes with a pre-sale guide of €500,000 or €3,500/ac.

"This was bought for telephone numbers during the boom," explains Mr Mulvin.

"It was expected an inner relief road would be built through it and that hasn't happened but the outline is still in the Edenderry Local Area Plan 2011-2017," he said.

Commute

Located 500m from Edenderry and 60km from Dublin, the lands are adjacent to the Enfield to Edenderry road, an improvement that has made a huge difference to the town, according to Mr Mulvin.

"Edenderry is now a very manageable commute from Dublin thanks to this new improved road.

"It is making a huge difference to property market in the town and beyond," he said.

The land is a mixture of good pasture ground, low-lying bogland, flood plain and 40ac of forestry delivering €4,000 to €5,000/ac in premiums.

Mr Mulvin said he was hopeful of an early sale of this substantial piece of ground.

"It's been on the market a while but things are a bit different now," Mr Mulvin commented.

Indo Farming