A single block of almost 200ac rarely comes to the market so it is unsurprising that a farm in Co. Waterford owned by Glanbia is attracting interest from across the country.
The 198ac holding is located in the village of Kilmeaden, beside the former Kilmeaden Cheese factory, around 6km from Waterford city.
The non-residential farm, which is very close to the M9 Waterford to Dublin motorway, has a guide price of €2,750,000.
Along with the land, there is a range of outbuildings, underground and overground effluent storage tanks and concrete silage pits.
Glanbia
“Glanbia have had it for a very, very long time. Way back in the day they actually used it as a dairy farm themselves and had a farm manager and milked cows,” Des Purcell of Purcell Properties, who is handling the sale, told Agriland.
The farm, set out in large divisions, has been rented for grazing for many years now. The holding also includes a small amount of forestry.
“It has a huge amount of road frontage. It has a single large farm building which was previously used as a milking parlour.
“There’s a good service road running internally through it which makes it easy from a farming point of view. There’s a never-failing water supply pumped to most divisions,” Purcell said.
“A block of 200ac is very hard to get. It would certainly be suitable for dairy purposes and is attracting local, regional and national interest.
“We’re guiding €2,750,000 and we believe we will be there or thereabouts when we sell it,” he added.
“There’s a lot of interest for two reasons, trying to get 198ac in a single block isn’t easy and it is not going to be terribly dear if we make the sort of money we are talking about. That’s working back to about €13,500/ac. The way land is gone, that is not dear,” Purcell said.
The price reflects the fact that the farm is non-residential and has potential for growth and improvement.
Although it is most likely the land will be purchased for agricultural purposes, it is noted that the holding could be used to develop a renewable energy farm.
The land is located adjacent to a 38KV ESB sub-station and there are 110KV and 220KV stations in close proximity to the site.
Farm
Glanbia has decided to sell the farm by tender which means that potential buyers must submit their bids to Kilkenny-based solicitors Kearney Roche and McGuinn by 12 noon on April 14, 2023.
The highest bid will then be selected from the submitted tenders. In the case that there is more than one highest bidder the parties involved will be contacted and asked how they wish to proceed.
“We’re saying our reserve is €2,750,000 and if you want to buy it you need to be talking that sort of money,” Purcell said.