Successful Macroom public auction of 80 acres with old farmhouse

Farmland market news
Successful Macroom public auction of 80 acres with old farmhouse
The house on the 80 acres near Macroom 

An 80-acre holding near Macroom in West Cork was successfully sold by public auction last week at the Castle Hotel by local agent Killian Lynch.

The farm – last featured on these pages on the 7th of July last – is the townland of Scrahan, 4km west of the Gaeltacht village of Coolea, 8km from Ballymakeera village and a 20-minute drive from Macroom. Another nearby point of interest is “The Top of Coom” – Ireland’s highest pub, which is just 5km away. This farm also formed part of a larger holding that was for sale back in Autumn 2018.

As one of the first public auctions to take place in Munster since the end of the lockdown, there were plenty of eyes focused on this even to see what would ensue and a good turnout was evident on the day in the Castle Hotel, in spite of the continuing Covid crisis.

The residential holding featured a traditional farmhouse in need of complete renovation, along with a range of outbuildings. The property is divided into three separate sections and includes arable grazing lands as well as mountain land that could be used for forestry. Keen interest was expected from both farming and non-farming sectors and the property was pitched (rather conservatively as it turned out) at €275,000 (€3,400/acre).

According to the man wielding the gavel on the day, the opening bid of €270,000 was already very close to the guide price. A number of bids quickly ensued from three active bidders, bringing the price up to €345,000. There was a short recess, after which the farm was declared ‘on the market’. The bidding resumed with two active bidders remaining and the hammer came down on a final selling price of €380,000 – a price which was, incidentally, considerably higher than the price guide on the original 127-acre holding two years ago.

It was €105,000 above the guide price and translated as €4,750 per acre. Killian described the result at “a great outcome”. According to the auctioneer, it was “a neighbouring party who was the happy purchaser and the farm was an outside farm belonging to one happy vendor… I believe that the bidders were all of a farming background.”

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