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 The tillage and grass farm was guided at €1.5m, withdrawn at €1.48m and sold for a price believed to be in the region of €1.6m.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However, bidding came to a halt at that point, the property was withdrawn and private negotiations began.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.