€22,000 an acre for holding

A WHOPPING €22,000 per acre has been paid for tillage land on the outskirts of Cobh, as part of the sale of the IFI site in Cork’s lower harbour.

The 127-acre holding, which has been on the market for just under a year, was sold for €3m, liquidator Ray Jackson of KPMG confirmed.

The land has no immediate development potential under the terms of the County Development plan and, according to Mr Jackson, all the indications were that it would keep an agricultural zoning.