Land with OPP for €125,00

A recent survey of site prices conducted by the Farmers Journal makes interesting reading. The cost of a half acre site with planning permission ranges from €30,000 to over €100,000, with sites in Roscommon, Mayo and Galway at the lower range of the scale while Louth, Mullingar, Wicklow, Wexford and Clare are at the upper end of the scale. Planning permission can be so difficult in some counties that a site with planning permission is almost impossible to find and can lead to sites exchanging hands for more than €300,000.

When a site extending to 2.22 hectares (5.5 acres) comes on the market with outline planning permission, interest is always going to be high, especially when the price tag is €125,000.

Inis Ard, The Neale, Ballinrobe in Co. Mayo is located on the shores of Lough Mask and has excellent views in all directions. The land has excellent road and lake frontage and boasts direct access to one of Ireland's premier angling lakes. The property is close to the village of Cong/Clonbur and The Neale and just 10 minutes from Ballinrobe.

Huge demand

According to Martin O'Connor of Michael O'Toole Auctioneer's and Valuers, there is huge demand for sites on Lough Corrib, but these are impossible to get. Even when one comes up, it will rarely have such good access to the lake. It's three years since they have sold a site in this area, and that went for €95,000. ``Be- cause of the location, there is considerable interest in the property, mostly from angling enthusiasts.

Days of the gavel are numbered

``The days of the gavel are numbered.'' At least that's what Wexford auctioneer Nick Stafford said after the withdrawal of the Hollyfort farm Laraheen House plus 47.35 hectares (117 acres) last week.

Nick is happier about private negotiations used behind closed doors and believes his ``massive'' powers of persuasion have a better chance at private treaty. Farmers are more cautious now. Unless you have a business interest, you're better to sell by private treaty. Property is expensive, and farmers are cautious about making decisions under pressure.

``There was great hype in the lead up to this auction,'' said Nick. ``When it began, it was difficult to get an opening offer. I looked for €800,000. It did not come, so I asked €700,000 and eventually got a bid at €650,000. But it was a pointless exercise as the interested individual was just bidding against himself, so I withdrew the property.There have been two firm bids since the auction, and there is now an offer of €1m on the property, said Nick.