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