Prime Bandon land sells for €2.4m
That was for 86 acres of prime Bandon land (the farm was originally part of the Castle Bernard estate) close to the town. The sale, which was agreed in October but not sewn up until this month, has set a good benchmark of €28,000 per acre for the locality.
While the property was bought in trust by Jim Cowhig of SWS, it’s believed three people were involved in the purchase — and there could be an alternative energy element to the land play.
Launched last March, there was an almost immediate offer of €2m made on the property and a lot on interest and a lot of negotiation later saw it rise to €2.4m.
The joint selling agents were Paddy Murray of ERA Paddy Murray and David Busteed of Sherry FitzGerald Brennan Busteed.
Directly off the N71, the Bandon to Clonakilty road, the property is laid out in two huge fields and is just two miles from Bandon town. It had been used for drystock for years, says Paddy Murray.
Meanwhile, the same agent has also tied up the sale of a large farm at Belrose, Enniskeane, for, coincidentally, the same amount as the Killountain farm.
However, this 43-acre holding was sold in lots and there was strong interest from a number of quarters, says Mr Murray, for the executor sale.
Described as an old fashioned grazing farm, it’s laid out in over 35 divisions and because it has plenty of road frontage, was easy to split up for sale.
The bulk of the land was sold in two lots: 54 acres of mixed land sold for €900,000 and a further 84 acres of even more mixed land sold for €940,000, and these lots went to local farmers, says Mr Murray.
The old yard and buildings were bought for €270,000, along with two acres and the main residence, a three-bed bungalow, was sold for €270,000 with three-quarters of an acre.
The sale has only now been completed, says Mr Murray, who is currently selling a 7.5-acre holding at Burren, Kilbrittain, which overlooks Courtmacsherry Bay and the village across the water.
On the main Timoleague/ Kinsale road, there could be site potential, says the agent, who’s looking for offers in the region of €250,000 for the property.
This is because it’s divided by a minor road which also neatly divides the property into two chunks of 55 acres and 87 acres, with the bulk of the land and farmyard south of the picture.
Northward, the best of the land is on offer in one lot of 55 acres.
The main residence, a modern, four-bedroomed bungalow is being offered with three-quarters of an acre of land and has a guide price of €250,000.
Overall, the farm has a guide price of €2m-plus, and that’s without taking into account the separate value of the house: this works out at around €14,000 per acre.
Two miles north of Enniskeane and Ballineen, the property is only a mile from Castletown village and three miles from Newcestown.
The sale is by private treaty, but could go to auction at a later date, says Mr Murray.
