89-acre East Cork farm fetches €15k/acre at auction

The 89-acre farm sold at auction at Ardra, Castlelyons, Co Cork.

The Midleton Park Hotel was the venue on April 10 for the auction of a substantial East Cork holding — an 89-acre farm at Ardra, Castlelyons.

The land was described by selling agents Dick Barry & Son in Fermoy as a good quality holding — sound and level and well laid out with excellent road frontage and private water supply.

A range of farm buildings on the land included a six-column hay shed with lean-to building and cubicle houses. Approximately 8-10 acres were in need of attention.

With a convenient location close to Castlelyons (5.5km), Fermoy (15km) and Midleton (16km), it’s a farm in an area with a heady mixture of dairying, beef cattle, tillage, and equestrian interests all strongly represented.

With two bidders active at the beginning of proceedings, the bidding opened at €900,000 (€10,000/acre) and progressed in increments of €20,000 until it reached a figure of €1,280,000 (€14,400/acre).

Auctioneer Michael Barry then took a short break from proceedings in order to consult with the vendors. Upon his return, he confirmed that the property was on the market.

Another increment of €20,000 followed, after which a series of further bids in increments of €10,000 brought the value of the farm to €1,330,000 (€15,000/acre). At this figure, the hammer fell — sold to a neighbouring dairy farmer.

Afterward, Michael expressed his satisfaction at the result of the auction: “The land exceeded the price guide. And this is further evidence of the strong demand for agricultural land.”