€1.67m paid for residential holding with 42 acres after strong bidding
Jim O’Brien was selling the residential 42-acre holding, and had quoted a guide price of €1m.
The farm was first offered in three lots - the residence, a traditional cottage, on 1.1 acres; 7.65 acres as Lot 2; and the remaining 33.45 acres as Lot Three. Bidding for these made close to €1.5 million; then the farm was offered in the entire.
It was then bid up to €1.61 million, and put on the market and knocked down to a solicitor buying in trust, for €1.67 million.
The purchaser’s identity isn’t known, but it’s rumoured to be a businessman from Innishannon.
There were a number of farmers among the bidders, said Mr O’Brien, but they dropped out at the agriculturally unsustainable level of €40,000 per acre.
A south-facing farm, it included a derelict farmhouse, which would ensure planning permission for a restoration or replacement dwelling.
Nine miles from Cork city, the farm is a short drive from Kinsale, giving it a strong appeal for residential buyers. It is situated a mile from Innishannon, up a narrow road.
Now, auctioneer Jim O’Brien is selling a 17 acre field at Slieveroe, Riverstick, already under offer at €500,000. After maize, it has frontage on two sides, to the Carrigaline-Kinsale road and the Ballyfeard road. Including some sheds, it is for sale by private treaty.
