West Cork farm prices holding up
The farm, originally flagged with 17 acres, was adjusted before sale to 16 acres. It was offered in lots and made €17,100 per acre through Hodnett Forde Auctioneers.
The property was initially offered in lots of the main residence and one acre, and the remaining 14.9 acres, or the entire.
Bidding was brisk in a full auction room, and the main residence, which was guide priced at €150,000 to €200,000, was bid to €170,000. The land, which carried a guide price of €15,000 per acre, was bid from an initial €150,000 up to €250,000, and then the property was put on the market in the entire.
Bidding for this came to €5,000 over the €420,000 offered in the lots – and it was knocked down to the only bidder, a local accountant.
It’s likely the purchaser is a local businessman and not a farmer, but what is certain is that the land made the equivalent of €17,100 per acre, something which wasn’t lost on John Hodnett.
“The auction gave everyone a boost, even the watchers inside the hall, because it shows that any land in west Cork is worth at least €15,000 per acre,” says Hodnett, nailing his colours firmly to the mast when it comes to pricing in his region.
