Shanbally sale set to excite interest

Pictured is the land at Shanbally, near Ringaskiddy, Co Cork.

As the nation gets set to exit from the bail-out this December — with all its attendant stage management — there are still some almost unbelievable tales of the boom out there to act as cautionary tales for the future.

And while stories of new seams of Irish gold abound, the old values prevail.

Land was, and continues to be the only asset class successfully trading through the crash, but with farmers now acquiring the stuff for dilutions of the former, delusion-ary values.

There’s yet another price reduction for this 62-acre holding of industrially zoned land, which is located at Shanbally, near Ringaskiddy, Co Cork.

Offered for the third time (said to be lucky), it was initially bandied about at values in the region of €150,000 to €200,000 per acre, but right now, selling agent Maurice Cohalan of Cohalan Downing is quoting values of €17,500 per acre for the land, in one or two lots.

All in grass, and with frontage onto two roads, the property last got an outing with values of between €25,000 to €30,000 per acre in 2012 — and a third of the original property was sold at elevated values at that stage.