Farm Ireland

Thursday 22 February 2018

Cornasesk Estate fails to sell

Jim O'Brien

Jim O'Brien

The failed sale of the 182ac Cornasesk Estate in Co Cavan was described as "very disappointing" by Pat O'Hagan of estate agents Savills.

The property, located near Virginia, was the subject of a single bid when it went to auction last week. Guided at €1.2m, it eventually attracted an offer of €910,000 when put before a full auction room at the Lakeside Manor Hotel.

The estate includes parkland pasture, woodland, a small gate lodge, stone-built farm buildings and the ruin of the former Cornasesk House, which was destroyed by fire in 2006.

It enjoys panoramic views over Lough Ramor on the edge of Virginia and comes with €27,000 in entitlements.

Mr O'Hagan believes a number of customers in the auction room had a keen interest in the property but needed time to organise finance.

He expects active interest in the holding over the coming weeks.

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