Hectic bidding pushes Cork land to €30,000/ac
A 16ac farm with an old bungalow and a series of dated farm buildings on the Old head of Kinsale made €680,000 at a private auction last week.
Auctioneer John Hodnett values the house at €200,000 and the land at €480,000 giving a per acre price of €30,000/ac.
The property is located at Ballymackean five minutes from the Old Head Golf Course and 10 minutes from Kinsale Town.
It includes a single storey detached bungalow that is structurally sound but needs total refurbishing and renovation. The accommodation includes three bedrooms, a kitchen, a living room, a sitting room, a bathroom and a hallway.
The yard is made up of a series of dated outbuildings that could be converted for other uses.
In a most spectacular setting looking out over the Atlantic Ocean the land is comprised of top quality ground that yielded a fine crop of silage in the summer and is now in grazing. On the western boundary the farm fronts on to a road leading to the golf course.
The property was on the private treaty market for a number of months and commanded a €430,000 price tag when the vendor and auctioneer decide to put the place to private auction involving the four highest bidders.
The bidding opened at €430,000 and was decidedly brisk until it went on the market at €550,000. Undaunted the customers kept at it until the final bid of €680,000 sealed the deal. Cork auctioneer Michael McKenna bought the place in trust for a client.