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COTTAGE AT POLLARDSTOWN, THE CURRAGH, CO. KILDARE ON C. 0.7 ACRE


FOR SALE BY PUBLIC AUCTION 
ON THURSDAY THE 8TH MARCH 2018 @ 3PM 
IN KEADEEN HOTEL, NEWBRIDGE, CO. KILDARE (ups)


Situated approximately 200 metres from the world famous Curragh Plains and Moorefield GAA grounds, this is a great location in close proximity to the surrounding towns of Newbridge (c.2 miles) and Kildare (c.3 miles).  Good road and rail links are closeby with the M7 Motorway access c. ½ mile at Junction 12, bus route and train service from Newbridge or Kildare. 

The property comprises a single storey stone faced cottage with slated roof containing c.498 sq. ft. (c.46.24 sq. m.) incorporating a livingroom, kitchenette, 2 bedrooms, toilet (in annex) standing on c.0.7 Acre site. 


The Vacant Site Levy which was established under the Urban Regeneration & Housing Act 2015 is likely to have ramifications for all owners of Vacant sites with the first year of billing due in 2019 for the preceding year at a rate of 3% of the market value in Year 1 rising to 7% after that (as outlined in Budget 2018).

There is a perception that this will largely only impact the owners of sites in Dublin or other large cities but this is not the case and as soon as June of this year owners will start getting notifications in the post that their property has been entered on the list.

A practical example of this is that we recently sold some residentially zoned lands in a Provincial Town which is unlikely to be developed in the short term.  If you apply the 3% levy to the current value the liability will be €13,000 in Year 1 and €30,000 in Year 2 so this matter is rapidly going to become a serious issue for landowners.

There is still some uncertainty around the exact working and implantation of this levy but we have set out below some initial questions with answers in summary form.  For anyone looking to read the relevant Act it is available on the link below http://www.irishstatutebook.ie/eli/2015/act/33/enacted/en/pdf

How a site is deemed vacant:
Vacant sites shall be entered on the register where they have been vacant for a minimum period of 12 months from January 2017 to January 2018, have an area in excess of 0.05 hectares, are zoned for either ‘Residential’ or ‘Regeneration’ purposes and are consistent with the criteria as set out in the Act.

Details of Vacant Site Register and when it will be available for inspection:
It is a requirement of the Act that properties are entered on the register including details of location, site area, ownership and market value which will be available for public inspection. From the middle of 2018 sites should start to appear on Local Authorities listings for Public review.

Timescales:
Planning Authorities will notify property owners before 1 June 2018 that their sites are being placed on the register. Thereafter the owner of the vacant site will be liable for payment of the levy in respect of each year until the site is no longer vacant.

Objection to entry on Register:
When notified by the planning authority of its intention to include a site on the register, a property owner may object to the proposed inclusion and can make a submission to the planning authority within 28 days. Pending the outcome of this and if the site is still to be placed on the register the planning authority must notify the property owner of the decision and the owner may, within 28 days, appeal the decision to An Bord Pleanála.

Calculating Cost of Levy:

The planning authority is obliged to determine the market value of a vacant site as soon possible after the site is entered on the register, and at least once every 3 years thereafter, and notify the owner accordingly. The owner may appeal this valuation to the Valuation Tribunal within 28 days of the notice. Subject to the right of appeal on a point of law to the High Court, the decision of the Valuation Tribunal is final.

 The Planning Authority or the Tribunal on appeal may, where it considers appropriate deem a vacant site has a zero market value where –

A.    No market exists for the site or

B.     The site is situated on contaminated lands and the costs of remedial works exceed the market value of the site.

What if there is a loan on the site:
Where a site is entered on the Register and subject to a loan the levy shall be amended as follows –

·         If the loan is greater than the market value then a zero per cent levy will apply.
·         Where the loan is greater than 75 per cent but less than 100 per cent of the market value then a rate of 0.75 per cent will apply.
·         Where the loan is greater than 50 per cent but less than 75 per cent the levy will be 1.5 per cent.

Any unpaid vacant site levy becomes a charge on the property and will remain a charge until such times as it is paid in full. The obligations to discharge the levy and provide the Certificate of Discharge apply to the Vendor and also the Vendor’s Solicitor acting in any disposal.

Summary:

A number of key questions (outlined below) still remain regarding the workings of this levy and we are awaiting clarification from both the Local Authority’s and the Department of Environment & Local Government on same.

Ø  Is the presence of a current Planning Permission sufficient to deem a site not Vacant or do works have to be commenced?

Ø  What if the site is in an area where there is a lack of public services for the site to be developed ie sewage, water, does the levy still apply?

Ø  What happens if it is uneconomical to develop a site and you can prove this, does the levy apply?

I strongly advise that owners review their land holdings if affected and carefully consider the future asset management of same. Once more information becomes available it will be easier to accurately assess the likely levy due on various properties but this is certainly happening and the first bill is going to arrive in 12 months time so people need to plan in advance. If anyone wants to discuss in more detail please feel free to contact me.

Clive Kavanagh, MSCSI, MRICS is a Director of Jordan Auctioneers & Chartered Surveyors who has been involved in the sales and valuation process of agricultural & development lands for the last 14 years. He can be contacted in the office on 045 – 433550 or clive@jordancs.ie




INTRODUCTION:

The start of a new year always brings with it an abundance of economic reports, outlooks and projections on future demand, supply, prices and trends. This will be evident across the entire property market including agricultural land over the next number of months and with headline grabbing prices and broad averages it can often be difficult to determine the real market fundamentals as to what is actually happening.

In Jordan Auctioneers our practice is primarily based in the Leinster Region and there are obvious variations in the price of land from County to County. Applying an average rate across an entire region can be very simplistic and although it can be referred to as a benchmark the variations on same can be substantial.

Overall the agricultural sector had a challenging year across the various enterprises. It was a positive year for the Irish dairy sector with a dramatic recovery in the milk price leading to an increase in national production of 8%. Finished cattle prices marginally increased in 2017 but the industry remains very vulnerable to fluctuations while Cereal prices remained at historically low levels even though there was a general increase in yields and some reduced input costs. Poor weather was a factor across all sectors with July, August and September extremely wet putting added pressure on farmers, particularly tillage operators.

The Brexit referendum result and depreciation of the Pound Sterling against the Euro has created an immediate competiveness challenge for the Irish agricultural sector and this is unlikely to be resolved in the short term until further progress in made in negotiations between the various sides.

Obviously confidence within an industry is an important factor in lands sales and prices but this is less so in Ireland than other European Countries. In Ireland there are many other emotive and additional factors that affect the price of land and serve to keep it at a relatively high base value. One of these is obviously the limited supply of agricultural land traded on a yearly basis (0.5% of total land area). An interesting statistic is that the average field in Ireland gets sold once every 400 years outside of a family compared to once every 70 years in France! The historical obsession with land ownership in Ireland and the limited supply has always kept a floor on prices even when the industry is going through difficult times.

THE LAND MARKET:

2017 proved a successful year in Jordan Town & Country Estate Agents with agricultural sales and acquisitions across a wide spectrum and totaling about 2,000 acres. Prices ranged from €6,000 to €20,000 per acre. This is where the application of an average becomes difficult. Each property has its own strengths and limitations which impact on the price achieved. Some notable features of the market and key determinants of price were:

§  Quantum and quality of land being offered remains a key factors in any sale. Large land holdings are more in demand than smaller parcels unless you have a number of adjoining farmers who are looking to expand and willing to bid against each other. Quality is always a key ingredient with land and considering the number of bad winters and summers experienced in recent times selling poor or marginal land is very difficult.

§  This is the first year we noted more land being purchased with bank lending. Up to now a lot of holdings had been bought by the remains of development or Compulsory Purchase monies. While lending terms and conditions tend to be strict there has been a freeing up of capital for land purchases by farmers assuming they have a good track record, strong business plan and plenty of security.

§  The variation in price is considerable and depends on a number of key factors as already outlined. We sold land from less than €6,000 per acre up to €20,000 per acre. The application of an average can be dangerous and the specific characteristics of the property are of fundamental importance as to where the value range lies.

§  Buildings, either houses or yards are not adding considerably to the value being achieved. Land is being priced by purchasers on a per acre basis and while buildings may complete a package and increase its attractiveness they do not necessarily add to the end value.

§  2017 saw the return of the ‘hobby farmer’ for smaller holdings and this is likely a result of improved economic factors with many companies and business people doing better within their own industry. In many instances these people come from a farming background and are looking to have a house, yard and some land for their own interests.

§  The perception of land as a ‘safe haven’ for cash considering the experience of the collapse of the Celtic Tiger and the investment markets has meant many people earning low interest rates on money and subject to DIRT tax and bank charges continue to see land as a safe place to ‘park money’ while either farming it in the interim or leasing.

§  Some farmers bought lands in the recession on the edge of Towns and Villages which are now zoned for development. An important consideration for anyone in this category is the new Vacant Site Levy which is coming into force this year and will impose a 3% charge of the market value of the lands in year 1 rising to 7% in year 2. Further investigation is recommended by any owners affected.

THE OUTLOOK 2018

Predicting values heading into 2018 is difficult but we envisage continued strong demand for good quality land and plenty of activity. Confidence in the dairy sector is high at present and therefore lands close to a number of strong operators is likely to command good interest.

The re-emergence into the market of the hobby farmer for smaller holdings, particularly where there is a residence and yard could act as a driving force for this type of asset especially where they are close to good transport links and have accessibility to the main employment hubs.

Values in our opinion will be specific to the property itself and therefore good advice whether buying or selling remains very important so there are no false aspirations or misconceptions as to what might be achieved.

Brexit does create uncertainty but for many farmers they are not prepared to wait or put plans on hold particularly if they have the financial means to purchase and land comes for sale close to them. The rise in prices across the dairy sector has resulted in a considerable investment in new parlours, sheds and facilities. Although this could create financial pressures for some it also indicates a confidence and determination to try and develop their business through more efficient practices and expansion.

Agricultural land in Ireland will always be traded and in demand due to our emotional affiliation and inbuilt desire to acquire it. The market is certainly one of the most stable assets classes within the property market, assuming of course that it is bought at realistic levels. The added bonus that land is a finite resource and unlike other investment products cannot be wiped out by external factors will mean that it will continue to be perceived as a safe haven for money even if the return is minimal. Farmers remain hugely ambitious, prepared to work whatever hours needed to make ventures viable but informed and sensible decision making is still a key ingredient for success.


Clive Kavanagh, MSCSI, MRICS is a Director of Jordan Auctioneers & Chartered Surveyors who has been involved in the sale of agricultural land and country properties for the last 14 years and works directly with Paddy Jordan. He can be contacted in the office on 045 – 433550 or clive@jordancs.ie


240 acres (97HA), Ardanairy, Brittas Bay, Wicklow
In one of the largest agricultural land sales in County Wicklow Jordan Auctioneers successfully sold 240 acres at Ardanairy, Brittas Bay Co.Wicklow on Thursday last by Public Auction for a figure of €1,650,000. The purchaser is believed to be a Wicklow based farmer and the figure achieved was well in excess of the guide of €1.3m.

The property was situated 3km from the M11 Motorway (Junction 19) at Jack Whites Cross and was offered for sale in 3 lots and while there were several interested parties for each section it was the entire which secured the highest bid.

The land was all in grass divided by the local road into Lot 1 which extended to circa 131 acres and Lot 2 which comprised 109 acres adjoining the European Golf Course. The land was generally in need of some work and a portion was part of a Special Area of Conservation (SAC).

In 2008 just prior to the economic collapse a major tourism resort had been planned on the lands to include a hotel, 18-hole golf course, holiday cottages, health spa, fitness centre and sports academy. The idea was to turn Brittas Bay into a year-round tourist destination with a diverse range of activities and facilities but the Planning Application was subsequently withdrawn before a decision was due and it now appears the land will continue in agricultural use.

Speaking after the Auction Paddy Jordan of the selling agents commented that ‘the quantum of land was a major selling point and although it required considerable work to increase its production capacity it is difficult in Ireland to buy a large block all together’

http://www.jordancs.ie/residential/brochure/240-acres-at-ardanairy-brittas-bay-wicklow/4124433






3 STEPHENSTOWN COURT,
TWO MILE HOUSE, NAAS, CO. KILDARE

Magnificent Detached 4 Bedroom Residence on c. 2/3 Acre with Large Detached Garage/Car Port with Loft Storage Overhead


No. 3 Stephenstown Court is an exceptionally fine detached 4 bedroom c. 2,870 sq.ft. (266 sq.m.) family home in the sought after Village environment of Two Mile House with the benefit of school, church, gym and pub/restaurant on your doorstep.  This is a modern residential development of 23 detached houses in the Village centre with generous open space only 450 metres from the church and primary school.  The house is to the front of the development in a quiet cul de sac of 3 houses.  Approached via a recessed stone entrance with electric gates to a tarmacadam drive, the house stands on a site of c. 2/3 acre of landscaped gardens enclosed by trees and hedges providing a haven of peace and tranquillity.  The gardens are a main feature of the property with beautifully presented flower beds, shrubs, decking and pergola interspersed throughout the garden.

This is an ideal family home constructed in 2004 with stone, brick and dashed exterior extending to c. 2,870 sq.ft. (266 sq.m.) of spacious well proportioned light filled accommodation presented in excellent condition throughout.  The house has the benefit of PVC woodgrain double glazed windows, dual oil fired/solid fuel central heating, PVC fascia/soffits and large detached garage/carport with loft storage overhead.

On entering the house you have a hall with oak floors leading into sittingroom with built in display units, wooden floor and cast iron fireplace, the heart of the home is the kitchen/livingroom where you have a very large room with kitchen area, dining area and living space with solid fuel stove, painted fitted kitchen with island unit, De Dietrich electric and gas stove with utility and toilet off.  Also off the sittingroom is a generous sized sunroom/livingroom.
There is a family bathroom and 4 bedrooms (3 of which have built in wardrobes) and wooden floors and the main bedroom suite has an ensuite and walk-in wardrobe.

The Village is easily accessible to the surrounding towns of Naas (c. 3½ miles), Kilcullen (c. 3½ miles) and Newbridge (c. 6 miles) offering a wealth of facilities including schools, banks, pubs, restaurants and shopping to include Tescos, Aldi, Lidi, B & Q, Harvey Norman, Argos, Currys, Woodies, Dunnes, TK Maxx, Newbridge Silverware, Supervalu and the Whitewater Shopping Centre with 75 retail outlets, foodcourt and cinema.   The Kildare Retail Outlet Village is only a 10 minute drive offering designer shopping and discounted prices.  Commuters have the benefit of the excellent road and rail infrastructure closeby with the rail service available from Sallins Station, bus route available from Naas and the M7 and M9 Motorway access closeby.

This is an ideal spacious family home presented in pristine condition in a sought after location, which must be viewed to be appreciated. 


The property is for sale through Liam Hargaden of Jordan Auctioneers who is guiding €695,000 and he can be contacted on 045-433550 for further information or appointment to view.



13 ACRES, TIRMOGHAN, KILCOCK, CO.KILDARE

Jordan Auctioneers sold 13 acres of good quality land just outside the village of Tirmoghan, a short distance from Kilcock by Public Auction on Thursday last for a figure of €180,000 just short of €14,000 per acre.

The property comprised good quality land, currently in grass laid out in 2 divisions. There were two active bidders at the Auction which opened with an initial offer of €100,000 with bids of €10,000 before the hammer fell at €180,000 to a local purchaser.

Speaking after the Auction Clive Kavanagh of the selling agents stated that ‘there had been good interest in the land, particularly from people who were considering purchasing with a view to applying for Planning Permission for a house, its location close to Kilcock and the M4 meant that it was very accessible’.


 Next week Jordan’s Auction 240 acres near Brittas Bay, Co.Wicklow so they will be hoping to keep getting good results before the end of the 2017 selling season.




WOODVILLE & MEELICK
PORTLAOISE
CO.LAOIS

Before a packed attendance on Tuesday last Jordan Auctioneers offered for sale Woodville House on 18 acres and 100 acres of agricultural land at Meelick Portlaoise, Co.Laois. The land was offered for sale in 3 lots and while there were several bidders for lot 1 & lot 2 it developed that the entire was making more and this was put on the market at €1,300,000 before being sold for €1,350,000 to a local farming family. Jordan’s had guided the 100 acres at €1,000,000 so the sale price of €13,500 per acre was a strong reflection both of the market and the quality of the land.

The entire was located a short distance from Junction 17, less than 3km from Portlaoise town centre with approximately 80 acres in one block with two farmyards and a further 20 acres on the opposite side of the Motorway.

Next up was Woodville House which adjoined the above lands and this opened with an initial offer of €500,000 with two active bidders. The property was placed on the market at €610,000 and a number of further bids were received before the hammer dropped at €630,000 to a Solicitor acting in trust on behalf of an undisclosed client.  Jordan’s had been guiding this lot at €625,000.

Woodville, owned by the Odlum family was described by Jordan’s as a charming Georgian Residence with courtyard and Gate Lodge on c. 18 Acres of parkland and amenity grounds. Built originally in the 1800s the residence comprises c.5,000 sq.ft of accommodation and whilst in good repair required some upgrading.


Speaking after the Auction Paddy Jordan said ‘both properties had generated substantial interest throughout the marketing period and while the house did require some upgrading it was in a good location surrounded by splendid mature timber and within close proximity of the M7 and Portlaoise town centre’. Paddy further said ‘the land, whilst all very good is likely to have some long term potential and although the price achieved was strong it could in time prove to be an excellent purchase’




C. 24.192 ACRES AND 95.480 ACRES AT KILMARTIN & BALLAGHMORE, BORRIS IN OSSORY, CO. LAOIS


Jordan Town & Country Estate Agents in Newbridge are offering two valuable parcels of lands near Borris in Ossory for sale by Public Auction on Tuesday 7th November @ 3.00pm in the Abbeyleix Manor Hotel in Abbeyleix.  The land is being sold in two lots c. 24.192 acres of top quality land at Kilmartin currently in stubble situated on the old N7 Borris in Ossory to Roscrea Road.  Beside this there is also a c. 95.480 acre holding at Ballaghmore the majority of which is in tillage, it also has a concrete holding yard with cattle crush.

The lands are located about 2 miles from Borris in Ossory on the Roscrea Road c. 4 miles Roscrea and they have extensive road frontage on the N7 and within a few miles of the M7 Interchange at Borris in Ossory.  The lands are believed to have deposits of sand, rock and gravel and there is an internal servicing all paddocks.

Paddy Jordan who is handling the sale said the property is ideally suitable for a dairying enterprise and is in an easily accessible location within a few miles of the M7 Interchange at Borris in Ossory.  It is likely to be suitable to established farmers in the area who wish to expand.


Jordans have issued a guide price of €10,000 per acre for the c. 24.192 acres and €600,000 for the c. 95.480 acres.  Full details are available from Jordan at 045-433550.




240 acres (97HA),Ardanairy, Brittas Bay, Wicklow
In one of the largest land sales to hit the market this Autumn Jordan Auctioneers, Newbridge are offering for sale 240 acres (97 hectares) adjoining Brittas Bay, Co.Wicklow for sale  by Public Auction. The property is situated 3km from the M11 Motorway (Junction 19) at Jack Whites cross giving easy access to a range of destinations both north and south bound including Wicklow Town 15km, Arklow 11km, Dublin 55km & Gorey 40km.

The area is a hugely popular holiday and tourism destination and the surrounding area features a number of popular holiday villages and caravan parks. The property also adjoins the world renowned "European Golf Course" which shares the spectacular coastline. 

The land is separated into two sections, divided by the (R750) coastal road linking Brittas Bay and Arklow. The land is predominantly in grass and has approximately 1km of extensive road frontage onto the main road. Jordan Auctioneers are offering the entire for sale in 3 lots:

Lot1–131acres(53hectares):

Situated on the Western side of the R750 and comprising c. 53 hectares (131 acres) this lot is laid out in about 9 divisions.  The land is predominantly in rough grazing but has been used as tillage land in the past. The lower lying sections to the North West are marginal quality with some bogland situated in a special area of conservation (SAC).  This lot includes a number of stone outbuildings and the remnants of a former dwelling house.  There is extensive road frontage of c. 500m along the R750.  Guide price €655,000 (€5,000 per acre).

Lot 2 109 acres (44 hectares):

This section comprises c. 44 hectares (109 acres). The land is laid out in c. 7 divisions and was previously used as a private landing strip. It includes an aircraft hanger and some additional buildings which are in disrepair. This section of land adjoins the world-renowned “European Golf Course” to the South and has extensive road frontage onto the main coast road linking Brittas Bay to Arklow (R750). Guide price €654,000 (€6,000 per acre).

Lot 3 Entire 240 acres (98 hectares):

There is a small portion of land on the western section of the property which is designated a SPA, SAC and PNHA. This section is also under the Buckroney –Brittas Dunnes and Fen Sac. Further details are available from reviewing documentation with Wicklow County Council.

According to the agents the land has ‘potential to be dramatically improved with proper management’ and represents an excellent opportunity to acquire a large land holding in one or two blocks at an affordable price’. Paddy Jordan commenting on the likely interest level indicated that ‘’it is likely that most of the interest will be agricultural related unless someone within the leisure industry sees a suitable opportunity considering its location’.


The property will be offered by Public Auction on Thursday the 2nd November 2017 @ 3pm in the Glenview Hotel, Delgany (unless previously sold). Additional information is available from Paddy Jordan or Clive Kavanagh of the selling agents.

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