Farm Ireland
Independent.ie

Sunday 24 September 2017

€700,000 in north Cork

Jim O'Brien

Jim O'Brien

A 70ac farm located adjacent to Tullylease village in north Cork saw two of its three lots sold at auction last week.

Extending to 65ac, the various lots made close to €700,000 or €10,785/ac under the watchful attention of joint agents John Flynn and Dan Fleming.

Laid out in seven to eight fields, the farm is described as among the best land to be found in that area. It had the added attraction of being divided by a local road, which meant it came with plenty of road frontage.

A derelict house and farmyard on the property were described as being of 'no consequence' to the farm or the transaction.

The holding was offered in the entire and in three lots. The first section consisted of 33ac, the farm buildings and the derelict house. Lot two extended to 32ac, while the final section was a 5ac parcel.

The 33ac with the house and yard opened at €270,000 and was bid to €300,000. The 32ac division opened at €250,000 and had two bidders in action until it too was held at €300,000. The 5ac parcel attracted one bid of €15,000 and was withdrawn.

In a second round of bidding the 32ac was bid to €301,000 and sold under the hammer. The 33ac section was then reintroduced and withdrawn after being bid to €360,000. Negotiations held immediately after the auction saw it sell for a sum believed to be around €400,000.

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Meanwhile, across the county line in Tipperary, a 94.1ac mixed residential farm, Norbury Lodge, at Cloncracken, Spruce Hill near Roscrea, failed to sell as an entire or in lots last week.

The farm came with a modern three-bedroom bungalow on an elevated site set on manicured gardens.

The land included 24.46ac of grazing ground and 68.8ac of forestry in conifers and hardwoods, yielding annual premium payments of €4,900 for two more years.

At auction Anne Louise Mitchell of Victor Mitchell Auctioneers offered the forestry on its own initially.

However, having attracted no bid on the day, it has since been subject to an offer.

Lot two, consisting of 24.46ac of grazing, was bid to €200,000 and withdrawn. This may now be offered in parcels of 18ac and 6.46ac.

Lot three, the house on an acre, was guided at €145,000 and failed to sell at auction, but there has been interest since.

Irish Independent