Prime holding sells for €1.69m

THERE was a full house for the auction of a prime holding in Watergrasshill, which sold for €1.69m, in three separate lots.

One of the biggest land sales in terms of acreage this autumn, the auction was on behalf of the executors of the late Micheal McHugh. Trevor McCarthy of Irish and European and Micheal Barry of Property Partners Dick Barry were joint agents. Auctioneer Joe McCarthy wielded the gavel on the day.

The property at Shahanagh, only a 15-minute drive from Cork city, made the equivalent of €11,000 per acre.

The residential holding also has entitlements to the value of €14,000 per annum, and has miles of road frontage.

The property is three miles from Watergrasshill village. The lots included the house and 18 acres, which were sold for €550,000; 21.1 acres which made €360,000, the equivalent of just over €17,000 per acre; and finally, the main bulk of the land, 116 acres, which included some waste area, but sold for €780,000, according to Trevor McCarthy.

The guide price given was between €12,000 to €15,000 per acre.