Record price paid for top quality land

With five farms up for sale in a relatively small area of the Lee Valley, it’s small wonder the news of a record-breaking local price leaked out following a sale agreement last weekend.
Record price paid for top quality land

The property, at Clonteadmore, Coachford, Co Cork, is a residential farm of 35 acres, part of which is within the development boundary and which was offered in five lots.

According to local sources, the top sale was ‘knocking on €17,000 per acre’ with all lots agreed, but not sold yet.

The property went on the market with Daniel Lehane of Lehane Auctioneers, just before Christmas and was under offer almost immediately.

Final offers were taken last weekend and the deal was done on all lots, according to insider sources.

The starting price was €10,000 per acre and the property sold in various lots, with the largest, 26.8 acres making over €16,000 per acre for what was described as top quality land.

“The land quality here is exceptional and we’re looking forward to how this will unfold in the next week of two,” said Daniel Lehane at the time.

In total, the per-acre price broke down to a little over €17,000 — and all buyers were local, even though there was interest from outside.

There were a number of underbidders, and they may now move onto the range of other properties for sale in the area.

There are four farms left to sell. In the immediate vicinity there is 74 acres on offer at Dripsey, which is garnering good interest through Irish and European, who are also selling 23 acres at Carrigathou, Coachford.

Meanwhile, a modern dairy farm at Coolacullig, Coachford, offering just under 100 acres and 73,867 gallons of quota, is on offer through the Brady Group and Sherry FitzGerald Hinchion and another 67 acres is for sale solely through Sherry FitzGerald Hinchion.

That’s a lot happening in one small corner of Cork, but the most recent sale in the area must be heartening for the vendors of the various properties. Not such good news, perhaps, for those looking to drive a hard bargain, but with such a range of ground on offer, it still looks like a buyer’s market in mid Cork.

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