Small Rylane holding sells for close to reserve price

THE auction was held in front of a full house and while there were few bids a small holding at Rylane, Co Cork, was sold fairly swiftly, last week.

There was no reserve disclosed for Glounaglough, Rylane, but Tom Heffernan of Sherry FitzGerald Hinchion expected to reach in the region of €5,000 to €6,000 per acre for the 22-hectare property, situated nine miles north of his Macroom base.

The farm is described as mixed grazing, and the sale includes an old stone farmhouse with stone yard — derelict, but of great potential.

On the day, the property opened at €250,000 for the entire, and two bids later, was withdrawn at €260,000.

Negotiations continued, and the farm sold for slightly more, close enough to the reserve, says Tom Heffernan.

The purchaser is described as a hard-working local farmer who intends to use the land, but is disposing of the farmhouse and yard, which includes a fairly decent hay-shed. The farmhouse and yard are more accessible from the Blarney-Tower area, and would suit young buyers looking for a project, or a builder with time on his hands.

According to Tom Heffernan, he’d be looking for in the region of €60,000 for the farmhouse and yard (selling with about one acre), but is open to offers.