Sale beats €11,000 per acre

FARM land prices have hit bottom and are on the way up, says auctioneer, Maurice Cohalan of Cohalan Downing and Associates, following the successful sale of 24 acres at Garranes, Carrigtwohill last week.

There was strong interest in the property, and a number of bidders, and although the agent couldn’t confirm the sale price, it’s believed the property realised a sum of more than €11,000 per acre.

Originally marketed through Lynch and Co in September 2008 at €25,000 per acre, the property was re-launched for sale in late October this year, and was sold this month. The land, all in one block, with road frontage on two sides, was purchased by a local farmer. Good quality pasture land, it was pitched as an excellent add-on or hobby farm.