An 86.07-acre residential farm on the outskirts of Rathcormac village, Fermoy, Co Cork, became the talk of the area when it sold in a private deal for almost €19,800/acre in recent weeks. Despite being offered in three separate lots – all of which generated tremendous interest – it really boiled down to two prominent equestrian-based parties in the latter stages. It’s understood that the Magnier family of the renowned Coolmore Stud bought the property after private negotiations for a figure believed to be in the region of €1.7m. This is just one of a number of properties that the Tipperary-based stud has secured this year alone.

Described as a “super farm”, the 86-acre holding lies on the development boundary of Rathcomac village. It came with extensive frontage to the old N8 Cork/Dublin road and to the Rathcormac/Ballyhooly road, as well as a modern bungalow residence. The farm itself is split by the Ballyhooly road, with 39.7 acres situated across from the residence on circa 46.4 acres. Currently in grass, the land is reported to be virtually without waste and suitable for all types of farming. It has seven access points off the road and has partial access to water.

Through the course of the selling campaign, joint selling agents Michael Barry from Dick Barry & Son Auctioneers, Fermoy, and Sam Daunt from Savills, Cork, received tremendous interest in the lots. These included 39.7 acres; 45.3 acres and the bungalow residence on 1.05 acres. A mix of farmers, working professionals and those eager to build a house close to Rathcormac village, expressed active interest. But in the latter stages, it became clear that the entire was going to produce the greatest financial outcome.

Built 12 years ago, the 2,960 square feet bungalow is in turn-key condition and features three spacious double bedrooms (one ensuite), lovely fitted kitchen/dining area, living room, conservatory and a large garage which can be accessed internally from the utility room. Outside, there are lovely landscaped gardens and lawns. It’s understood that the residence on 1.05 acres was bid to €325,000 during the selling campaign. Hence, if this is subtracted from the total price, the average for the remaining circa 85 acres works out at almost €16,200/acre. Given its prime location, it couldn’t be ruled out that, at some stage in the future, development may become an option.