Glebe land primed for investment in Cavan
A 34ac elevated holding on the edge of the town of Cootehill in Cavan, which is centred around the ruins of the old Glebe House, was withdrawn from auction last week after being bid to €322,000.
With 50m of access on to the street in Cootehill and 230m of frontage on to a well-maintained laneway, the place is ideally located from many perspectives.
The lands are entirely in productive old pasture, nicely laid out and with no waste. Currently, the place is being zero grazed by a local dairy farmer and comes with a farmyard that includes twin four-column sheds with silage walls and a double lean-to fitted with cubicles, all set on a large concreted yard with feed troughs and cattle-handling facilities.
The former Glebe House standing at the centre of the farm is in need of renovation. The property could have excellent investment potential given that it has lapsed planning permission for 300 houses and commercial development.
On the day of auction, a fine crowd showed to view proceedings and a few came to bid. Raymond Potterton launched proceedings when he accepted a bid of €250,000.
With four bidders in contention, the price rose in increments of €10,000 to €280,000 and then went on in €5,000 bids to €320,000.
A further €2,000 saw the property withdrawn from auction and the place is now for sale by private treaty. Stephen Barry of Pottertons says there continues to be active interest and he expects to conclude a deal in the not too distant future.
Meanwhile, much further south, near Nenagh in Co Tipperary, local auctioneer Eoin Dillon failed to sell a property located near the North Tipperary town.