Auction fever as 30 acres of prime land sells for €720,000
This time round, 30 acres of tillage ground made headlines at auction last week when it sold for €720,000 — twice the guide price of €360,000.
Even auctioneer Killian Lynch was astonished at the result, despite knowing that there was strong interest prior to the auction. But on the day the property took off. While it opened at €360,000, it quickly bid up in 10,000s to €560,000, at which stage it went on the market. A number of farmers, accountants and solicitors were bidding for the well-located property, but in the end, local farmer Jeremy Dineen won with a final bid of €720,000. He came in late, says Lynch.
The tillage ground at Knockanemore, Ovens, Co Cork, has good gravel deposits, but it’s the quality of the land that drew farmer interest, says Lynch, leading to one of the strongest per- acre prices for land this year.
Laid out in six-level divisions, the land has free-draining soil and is close to Ballincollig, and immediately adjacent to large quarries run by John A Wood Ltd.
