A block of circa 53ac at The Curragh in south Co. Kildare will go for auction on Friday, September 29, at 3:00p.m in the Keadeen Hotel, Newbridge.
The property, which has a guide price of €10,000/ac, is currently owned by three brothers who have decided to “cash in their chips” – for various reasons – according to selling agent Clive Kavanagh of selling agents, Jordan.
“The lands at Eagle Hill, Suncroft, are located in a rural area between the villages of Suncroft (4km) and Nurney (7km),” the agent added.
“There is access via several local roads and the larger towns of Newbridge (12km), The Curragh (7km), Kildare town (11km), Athy (13km) and Kilcullen (12km) are all within easy reach. The M9 and M7 motorways are also both within 10 minutes’ reach,” he said.
The property is being offered for sale in two lots or as the entire.
On the first lot, 45ac with a farmyard, Clive said: “The lands are all in the one block, currently in grass and laid out in four divisions with natural boundaries and hedgerows on all sides.
“There is extensive frontage onto a cul-de-sac laneway. The yard, located at the entrance, provides two hay barns with lean-to, cattle crush and loading pens.”
The second lot, 8ac, is directly opposite the 45ac and is in grass, also in one division.
It would make an ideal site for a dwelling, subject to obtaining the necessary planning permission, the agent said
The entire is an ideal out-farm, possible location for a hobby farmer looking to build a house or someone looking to expand their enterprise, according to Clive.
There is a limited supply of land generally for sale around The Curragh and particularly of larger blocks over 50ac, the auctioneer said.
With the land leasing market also strong, the investment merits of acquiring land to take advantage of the tax-free income also presents opportunities, he said.
“We expect interest primarily from the local market, but it could attract an investor or cash-rich purchaser looking to acquire a block of land as a safe long-term place for funds and to take advantage of the tax-free income on a lease over five years,” the selling agent said.
“We have seen increased activity from investors and other business people over the last year in agricultural land.
“Land is a finite resource and unlike other investment products, cannot be wiped out by external economic factors which can happen with equities and other investment products,” Clive said.
“There is also an emotional affiliation and in-built desire to acquire it from those who grew up on a farm and have since branched into other business enterprises, along with the existing pool of farmers who remain hugely ambitious and hard working.
“A quote which is often repeated to us by a successful purchaser is: Well, they can’t make any more of it.”