Farm Ireland
Independent.ie

Friday 28 July 2017

Cork parcel reaches top of guide and delivers excellent result for vendors

Jim O'Brien

Jim O'Brien

A roadside farm of 40ac with a derelict dwelling at Monagurra, Shanagarry, Co Cork sold under the hammer last week for €380,000 or €9,500/ac. The sale price came in at the upper end of the guide of €8,500 to €9,500.

Located midway between Shanagarry and Ballycotton, the land is described as top quality ground by auctioneer Miah McGrath of Midleton auctioneers McCarthy McGrath.

The property includes a detached bungalow in need of considerable renovation and substantial road frontage.

According to Mr McGrath, the land is suitable for tillage or grass.

BIDS

It was a full house at the auction room at the Midleton Park Hotel when Miah McGrath opened proceedings seeking bids in excess of €150,000.

Five bidders entered the fray and in increments of €25,000 the price on offer soon reached €350,000.

The property was put on the market at that and after three bids of €25,000 and one of €5,000 the property was knocked down at €380,000 to a local solicitor acting for a client.


Indo Farming