Cork farms sell at €14,000 to €17,000/acre

Irish Examiner - Farming - - PROPERTY - Conor Power

Although the auc­tion of 55 a c re s at Gu r t a c r u e , n e a r Mi­dle­ton, Co Cork, was can­celled at the last minute by the sell­ing agents CCM (the prop­erty fea­tured on th­ese pages on Jan­uary 18), there has been no short­age of ac­tion be­hind the scenes.

The Gur­tacrue prop­erty is a res­i­den­tial grass and tillage farm lo­cated ten min­utes from the lively mar­ket town, which was bring­ing in a Ba­sic Pay­ment of €9,500.

There had been no short­age of keen in­ter­est in this farm, and long be­fore the auc­tion date of Jan­uary 25 in the Mi­dle­ton Park Ho­tel, there had been three dif­fer­ent pro­pos­als for in­di­vid­ual sec­tions of the prop­erty.

The farm had been at­tract­ing plenty of in­ter­est from var­i­ous sources, in­clud­ing those who had an eye on the in­vest­ment pos­si­bil­i­ties that it pre­sented.

In the end, ac­cord­ing to sell­ing agent Éa­monn O’Brien, the planned pub­lic sale was scup­pered by a phone call from an Amer­i­can res­i­dent who made a suc­cess­ful bid for the en­tire hold­ing.

The undis­closed fig­ure is be­lieved to have ended up some­where in the re­gion of €14,000 per acre, well in ex­cess of the ad­ver­tised price guide of €650,000-700,000.

It wasn’t quite as strong as the price of € 17,000 per acre achieved the last time this auc­tion­eer sold land on the out­skirts of Mi­dle­ton, but the bird in the hand proved to be tempt­ing enough, and im­me­di­ate enough for the pub­lic auc­tion to be ren­dered null and void.

“We felt that it would have been fool­ish not to take the of­fer that was made,” says Éa­monn. “It was an Ir­ish­man liv­ing in Amer­ica who pos­si­bly has dreams of re­turn­ing to the Old Sod.” Two ex­cep­tional Co Cork s a l e s by p r i va t e treaty re­cently saw the per- acre price climb as high as €17,000. Both were in the Castle­town­roche area be­tween Mal­low and Fer­moy, and con­sisted of good qual­ity farm­land in parcels of 158 acres and 10 acres.

Some of the land on the 55-acre hold­ing at Gur­tacrue, near Mi­dle­ton, Co Cork that has sold for about €14,000 per acre.

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