Coolmore consortium buys site in Tipperary

A CONSORTIUM involving Coolmore, the country’s leading racehorse training and breeding business, has acquired a 91-acre landholding in south Tipperary which was withdrawn from auction earlier this week. The land, which borders the Ballydoyle Stables, has been sold for an undisclosed sum understood to be considerably less than €3 million.

The site, at Castleblake near Rosegreen village, contains a dormant rendering plant which has long been a source of concern to the Coolmore Group, which operates the Ballydoyle Stables and the Coolmore Stud. The owners put the site up for sale after failing to secure planning permission to replace its rendering plant with an “environmentally friendly” animal waste-disposal facility.

Auctioneer Patrick Quirke had initially sought a bid of €4 million but the only bid was for €500,000 from Dominic Daly, a Cork-based property consultant. Mr Quirke said he had “prolonged negotiations” with Mr Daly and eventually “a deal was struck”.

He was “happy with the sale” but “couldn’t comment on price”. Mr Daly would not say how much he had paid, who his client was, nor what plans were envisaged for the site due to “a confidentiality clause”.

However, The Irish Timeshas learned that the purchaser is a consortium which includes the Coolmore Group and other local interests and that they paid "a good bit less than €3 million".

It is understood that the new owners intend to clean up the site in consultation with the Environmental Protection Agency and will consider using the land to create suitable employment opportunities for local people.