Beaufort farm fetches €15,000 per acre

IT was priced at €18,000 per acre initially, but in a market where you ask more to get less, the agent did very well to reach €15,000 per acre for a farm at Beaufort, Killarney.

Farm sales are hauling themselves out of the mire with more agents quoting above the former benchmark €10,000 per acre figure in sales so far this season.

Despite ‘double dip’ recession forecasts, the Beaufort sale augurs well for one aspect, at least, of the country’s GNP.

Tom Spillane, with Billy O’Shea of Killorglin handled this sale, first by private treaty, but later by auction. But those Kerry buyers kept their counsel and the farm failed to achieve its reserve.

All was not lost, however, because the first lot of some 26 acres sold after the auction for €10,000 per acre.

The second lot of eight acres had been bid up to €110,000, and was subsequently sold to a local farmer for the “magic” €15,000 per acre figure.

Tom Spillane says there’s still strong interest in agricultural land. That is borne out by another Killarney area sale, at Minish, completed successfully though Michael Coghlan of Sherry FitzGerald Coghlan.

The land, which includes a cute, three-bed farmhouse, is only three miles from the prosperous tourist town, and has road frontage onto the N22. Consisting of 15.3 acres of good quality grassland and 8.3 acres of coniferous forestry, the farm was sold for €410,000, compared to a guide price of €450,000.

When the constituent parts are broken down, the good quality land made about €15,000 per acre, says Michael Coghlan, indicating strong demand for land near the town.

The farmhouse, at the end of a tree-lined avenue from the main road, could be the thin end of a planning wedge, perhaps. The property came with a modern hayshed and feeder unit, a slatted shed and a number of outbuildings.


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