Farm Ireland

Sunday 17 December 2017

Non-residential farm fetches €1.7m

Jim O'Brien

Jim O'Brien

A total price of €1.68m was paid at auction for a 143ac non-residential farm sold in three lots in east Cork last week.

Located in the parish of Killeagh, about 25 miles east of Cork city on the Waterford/ Youghal Road, the farm is situated in the heart of Cork's tillage country. The property was rented and actively farmed for the past number of years and was well kept.

The farm sale attracted huge interest in the area, with two lots bought by locals and one bought buy a solicitor thought to be acting for a local buyer.

Fermoy auctioneer Mick Barry handled the executor sale with Eamon O'Brien of CCM Cork Marts. He described the farm as a good arable holding typical of the land in the area.

The property was in three distinct parcels, with 35ac adjacent to the village of Killeagh, and 60ac located at Carrigarostig one mile away.

The final section was a parcel of 48ac with an old farmhouse and farmyard situated at Castle-richard.

The first lot consisted of 35ac of tillage ground at Lagile and Moanlahan, adjacent to the village, and this came with substantial road frontage.

Three local bidders showed interest in this parcel that went on the market at €410,00 and sold under the hammer for €490,000 to a local businessman.

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The next lot, consisting of 50ac of tillage ground and 10ac of grass at Carrigarostig, also came with substantial road frontage. This attracted three bidders and after lively opening bidding it went on the market at €600,000 and sold under the hammer for €710,000 to a solicitor acting in trust.

The last piece, located at Castlerichard, was made up of 47ac of grass and tillage and came with a derelict farmhouse, old farm buildings and considerable gravel deposits. This parcel also attracted lively interest, with three bidders battling it out. It went on the market and sold for €480,000 to an adjoining dairy farmer.

Mick Barry was delighted with the sale saying that the level of bidding and the number of underbidders bodes well for land sales in the area.

Irish Independent

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