Farm Ireland
Independent.ie

Monday 26 February 2018

Ready-made income stream makes two parcels attractive

Jim O'Brien

Jim O'Brien

Non-residential parcels are continuing to sell and two medium-sized parcels in Offaly and Tipperary with a mixture of grazing and forestry should prove attractive to customers in search of holdings with a ready-made income stream.

Newport auctioneer James Lee is selling a 72ac farm at Coosane near Birdhill on the Limerick-Tipperary border. The farm includes 25ac of forestry and 47ac of grazing ground along with a range of useful farm buildings in a private treaty sale with a guide price of €600,000 or almost €8,500/ac.

Located 2.5km from Birdhill, 3.5km from the M7 motorway and 16km from Limerick city, the holding is just off the old N7 between Birdhill and Daly's Cross.

The farm is described by James Lee as a good grazing farm made up of nice clean land with good road frontage. The buildings on the holding include a relatively modern six-bay slatted shed and some older buildings.

The 25ac of forestry is made up mainly of hardwoods including spruce, larch and oak with eight years of premiums left at €4,500 per annum.

INTEREST

The roadside holding was withdrawn from auction some time ago and has been the subject of active interest since.

A current offer "not far from the guide price", according to the auctioneer, is leading the field.

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A somewhat similar 66ac farm at Galross, Fivealley, near Birr in Co Offaly, is for sale by Offaly auctioneer, William Rigney. Located off the main Birr to Tullamore Road, the property is five miles from the towns of Birr, Banagher and Cloghan. The private treaty sale is being guided at €400,000.

The holding comes with annual farm payments of €14,339, half of which is generated by a 20ac plantation of four-year-old forestry with 16 years of payments left.

The 46ac of grassland is described by William Rigney as the best of grazing ground once renowned for fattening store bullocks. While the land could do with some attention, its core fertility remains intact, according to the auctioneer.

Aside from a holding pen and chute, there are no farm buildings with the property, which has good road frontage and access by a laneway on one side. The presence of a derelict cottage on the property might be of help in the planning process for a customer with an interest in developing a residential holding.

Irish Independent