Cork dairy farm breaks the million mark
An 80ac residential farm in Cork sold at auction last week, making €1.205m or €15,000/ac.
The land is just off the M8, about five minutes from Glanmire. Laid out in 15 fields and fenced with traditional hedgerow and good road frontage, it is described by auctioneer Michael Barry as a farm in good heart aside from a 10ac portion that needs attention and reclamation.
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It comes with farm payments of €9,001 per annum. The residence is a structurally sound 1960s bungalow in need of some refurbishment.
The yard includes a range of dated buildings that includes a four-column hay shed with lean-to, an older three-column shed with lean-to, plus cattle-handling facilities and other outbuildings.
At auction, proceedings took a while to start and Mr Barry was at the point of withdrawing the sale when a bid at €700,000 brought things to life.
Four bidders joined the race, and just as they were slow to start, they were equally reserved about the size of the bids. After opening in tranches of €20,000, the increments dropped to €5,000 at €800,000.
With three bidders - a solicitor, a local dairy farmer and a local businessman - remaining in contention, the sale eventually passed the million mark and at €1.08m, Mr Barry put the property on the market.
In the last moves of the protracted sale, a bid from the dairy farmer brought the price to €1.195m, the solicitor put €1.2m on the table, but the well-known local businessman won the day with a bid of €1.205m.
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