A 55ac farm located at Maulashangarry, just outside the speed limit boundaries of the town of Dunmanway, sold at auction recently for a combined total of €567,500.

Daniel Lehane of Lehane & Associates Ltd, Dunmanway had offered the holding in two lots guided at €520,000. The land is all in one block with extensive road frontage. The dwelling consists of a traditional two-storey farmhouse in need of renovation.

The farmhouse is in need of renovation

It was eventually sold in two lots for a combined total of €567,500 with the land being purchased by a Bandon based solicitor buying in trust.

The auction at the Parkway hotel was well attended and bidding was brisk.

Lot 1 consisted of the house and 0.5ac was guided at €80,000 and Daniel said: “The opening offers on the house began at €40,000 and it ended up well above expectations. It was purchased by a local couple for €95,000.”

“There were four active bidders for the land, with some strong farmer interest with it opening at €360,000.

“There was a bit of to-ing and fro-ing as to whether it would be sold in one or two lots. When the dust settled, the hammer fell on the land at €472,500 (€8,700/ac).”

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