Property: Two Cork land banks sold at auction
On June 11, the farm went under the hammer with locally-based agent Killian Lynch and was presented in 3 lots:
Lot 1 was 116 acres; Lot 2, 63 acres and Lot 3 consisted of the entire offering. Bidding for the first lot began brightly at €115,000 and ended with a successful bid of €222,000 (€1,900/acre). Lot 2 opened at €250,000 before being sold for €325,000 (€5,100/acre).
This made a total of €547,000 for the entire holding - outstripping an earlier offer of €500,000 for Lot 3.
The farm consisted of marginal lands in the main (ca. 70 acres of grazing land in need of attention and the remainder consisting of mountain land) and there was great interest locally, with full attendance. While Lot 2 was purchased by a local farmer, the first lot was bought in trust.
On May 12, meanwhile, another auction of 128 acres near Drimoleague also ended successfully at the West Cork Hotel, Skibbereen.
The land was presented in 3 lots (26 acres at Lissane, Drimoleague, 43 acres at Killahane and 58 acres of forestry land at Derryclough) in an executor sale, with Jim O’Brien of CCM and Charles McCarthy of Skibbereen acting as joint agents.
The 26-acre lot was of good quality and came with an old farmhouse and yard. This was sold to a local farmer for €315,000 (€12,100/acre).
The second holding of 43 acres of “mixed quality” was also sold to a local farmer - this time for €360,000 (€8,400/acre) and the forestry section was bought in trust by a solicitor for a final price of €170,000 (€2,900/acre).
The agents were pleased with the result, with a large crowd in attendance on the day and brisk bidding that brought all three offers to a swift conclusion.
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