Double land sales in West Cork net over €3m
Aerial view of the 90-acre coastal farm Brownstown House, sold recently default
Clonakilty-based auctioneers Hodnett Forde Property Services have recently concluded the sale of two properties that illustrate the strong fortunes of the land market in their part of West Cork.
Both properties had sales concluding recently by private treaty. The first farm was a very picturesque 331-acre hill farm at Derryriordane, Inchigeela.
“It went on the market in March with a guide of around €800,000,” says selling agent John Hodnett. “There was strong interest in it, both from non-farming and farming interest. There were about 40-45 acres of low-lying old pasture, as well as an old farmhouse. It’s in poor condition but will qualify for the Vacant Property Refurbishment Grant.” The outbuildings were also limited but of some use, he added.
“The remaining 290 acres or so was pure rock – highlands and really only suitable for sheep grazing. There was good activity and lively bidding on the property and it ended up at a price of €1,660,000… purchased by a farming family.” The other property was Brownstown House – a 90-acre coastal holding, 2km from Ardfield village and 8km from Clonakilty.
“There were about 75-80 acres of good land,” says John. “The remaining would be high cliff and rough ground. The good land would have been under a cereal and maize crop and the farm had been leased for a considerable period of time.” The house on the property is a two-storey traditional stone-built farmhouse requiring considerable renovation/modernisation. Along with its own sea frontage, Ballycusheen Beach and pier is just 500 metres away.
“Interest in the property was very strong – both national and international. We were guiding it at between €1,300,000 and €1,500,000 (€14,000-€17,000/acre) but it made €1,830,000 in the end.
“The interest was such that when it got up into the region of €1,500,000, we decided to hold a private auction amongst three interested parties, represented by their respective solicitors… the buyers were a family from the Cork region with farming interests.
“They were two very good sales – strong interest and they concluded very satisfactorily.”
