Sold for over €13,000/acre

IT would have sold last time round for €35,000 to €40,000 per acre, but now, a small portion of a 600-acre site accumulated at Ballymacus, Kinsale, Co Cork made just over €13,000 per acre. And that’s considered good in the current market.

The buyers were there, as were the local auctioneers, six of whom turned up either to represent clients, or perhaps, just to view proceedings.

Interest was high partly because the auction lot was part of a larger property, which was seized by ACC Bank, and which is probably just the trickle before the flow.