Pictures: Price is right in Cork as 117ac nets €1.6m
Tillage and grass farm makes almost €14,000/ac
Cork land continues to command a premium and a 117ac residential farm at Ballylegan, Glanworth, in the Rebel County sold after auction last week, making between €13,500 and €14,000/ac.
The property was bought by Ned English of Castlecor Potatoes. The tillage and grass farm was guided at €1.5m, withdrawn at €1.48m and sold for a price believed to be in the region of €1.6m.
Located between Fermoy and Kildorrery, the residential holding was let for the past 30 to 40 years and farmed for tillage and dairy. Divided by a country road, the land is described by auctioneer Mick Barry as all good quality ground without any waste.
The yard is made up of a series of dated but useful sheds and water is supplied by a mains supply and a private well. The house is a two-storey traditional farmhouse that hasn't been lived in for some time and while it could do with refurbishment, it is nevertheless structurally solid.
At auction, proceedings opened when Mr Barry accepted a bid of €1m. With three bidders in the chase, the price rose in tranches of €50,000 and at €1.48m, two bidders remained, the highest being Mallow solicitor David O'Meara.
However, bidding came to a halt at that point, the property was withdrawn and private negotiations began. These concluded very quickly when the place was bought by Mr O'Meara who, it is believed, was acting for well-known potato farmer Mr English. Between €13,500 and €14,000/ac was paid for the holding.
In the south east, a 83.5ac residential farm at Shean, Myshall, Co Carlow, in the foothills of Mount Leinster, sold in lots during and after auction last week. According to auctioneer Ed Donohoe, the place reached its guide of €900,000.
Located off the Garryhill Road, the holding is 2km from Myshall and 10km from Bagenalstown, with the town of Carlow and Kilkenny City not far away.
The farm was the subject of an executor sale and described as a good grassland farm in need of some attention.
The lands extending to 83.5ac are in grazing and come with extensive road frontage. The dated yard includes an old slaughterhouse, a two-column barn with a two-column and a three-column lean-to.
Fronting the road, the house (left) is structurally sound while needing modernisation and refurbishment. According to Mr Donohoe, it has great potential.
At auction, the house and outbuildings on 1.5ac sold under the hammer after opening at €80,000. With three people in the chase, the property went on the market at €100,000 and was bought for €120,000 by a local buyer returned from the US.
The second lot, made up of 42.7ac, attracted two local bidders when it opened at €300,000. It was withdrawn at €370,000 but sold immediately afterwards for a price in line with the guide of €10,000/ac.
The final lot, a 39ac parcel, got one bid of €340,000 and sold after auction for a price close to the €10,000/ac guide.
Mr Donohoe was delighted with the result. "We had a packed auction room and the property made what we were expecting it would make," he said.
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