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Monday 23 July 2018

Hectic bidding pushes Cork land to €30,000/ac

There were four bidders involved in the chase for the 16ac farm, residence and outbuildings on the Old Head of Kinsale
There were four bidders involved in the chase for the 16ac farm, residence and outbuildings on the Old Head of Kinsale
Jim O'Brien

Jim O'Brien

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.

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The other bidders included an Irish buyer based in Dublin and two Irish bidders based abroad.

John Hodnett described this as one of the most popular properties he ever brought to the market.

"It's an exceptional landmark holding enjoying what is arguably one of West Cork's finest coastal locations. There were in excess of 25 viewings that included locals, people from all over the country and international customers from the US and the Middle East," he said.


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