Farm Ireland

Wednesday 22 November 2017

Selling agent not surprised by good price for Co Cork holding

It was smiles all around when a 17ac holding at Dunderrow near Kinsale sold for €247,000 at auction on Thursday last.

Located at Ballynamona, Dunderrow, two miles from the food capital of Ireland, this high quality land is laid out in three easily managed fields of grass with good road frontage.

According to Blarney-based selling agent Dan Fleming, it would make for an excellent small residential holding in an area of high amenity.

A good crowd turned up at the Trident Hotel, Kinsale, for the auction, and Mr Fleming said most of those present were local farmers.

He opened the bidding at €85,000 and four bidders took it up in €10,000 increments as the auction moved swiftly through the one hundred thousands. It then slowed when the price reached €230,000.

In bids of €5,000, the sale reached €245,000 and, just when it seemed matters were about to be brought to a conclusion, a bid of €2,000 clinched the deal for a Bandon accountant who is believed to be acting for a local farmer.

At €15,000/ac, this is a good price for land in the context of the current market. However, Mr Fleming was expecting to get this kind of money and even a bit more.

"The location and the quality of this piece of ground meant that it was going to sell well. While I expected it to attract a range of customers it is good to see farmers back in the market and buying."

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Irish Independent