Farm Ireland
Independent.ie

Tuesday 6 December 2016

Callatrim farm could now be auctioned off in two lots as top bid of €230,000 falls short

Jim O'Brien

Published 15/03/2011 | 11:29

A 22ac residential farm at Callatrim, Bandon, Co Cork, was withdrawn from auction at the Munster Arms Hotel Bandon last Thursday when the strongest bid of €230,000 failed to buy the property.

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Located 1.25 miles from Bandon on the Cork city side of the town, the holding comprises 22ac of grassland in permanent pasture.

Laid out in one block, the land slopes to a stream that runs along the boundary to the north of the farm.

While the residence is in need of total refurbishment and the outbuildings require similar attention, the land is described as top quality with no waste.

Battle

A crowd of more than 50 people turned up to the auction to see Denis Barrett, of Cork selling agents Denis A Barrett, open the bidding at €180,000.

Three interested bidders engaged in battle and the sale continued steadily until matters came to somewhat of a halt when the price on offer reached €230,000, considerably short of the guide of €14,500/ac.

At that point, the auctioneer took a recess and consulted with the highest bidder.

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The property was withdrawn from the auction and negotiations with the said bidder are continuing.

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Mr Barrett hasn't ruled out the possibility of putting the property back on the market in two lots, separating the house and one or two acres from the farm.

"This would perhaps give a truer picture of the value of the place," said Mr Barrett.

"Houses and sites in the Bandon area still command a premium and so I am looking at selling this property in lots of 20-21ac of land and a second lot comprising the house on one or two acres."

Nevertheless, the auctioneer is hopeful that a sale can be concluded without returning to the market.



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