A circa 50.7ac residential property at Rathcoole, Mallow with a derelict house sold at public auction on 29 February in the Castle Hotel, Macroom.

The property was offered to the room in three lots and auctioneer Eamonn O’Brien of CCM property said that, initially at least, proceedings were sluggish. Lot 1 comprising of circa 18ac of excellent grassland opened at €150,000, there were no opening bids on Lot 2, circa 31.7ac, of land that had some poorer quality areas and Lot 3, a derelict house and yard on one acre opened at €25,000.

The entire received an opening bid of €350,000. Following a recess, further bids were placed on Lots 1 and 2 while a new bidder entered with a bid of €400,000 on the entire.

Elevated farm

At this point, it was put on the market and it rose in increments of €5,000 before the gavel fell at €540,000 for the entire. This equates to €10,651/ac. Rising to 600ft above sea level, this elevated farm was purchased by a local dairy farmer.