The Irish Farmers Journal understands that a 67.8ac residential farm in west Cork has sold recently for €2.686m (€39,617/ac).

Expected to sell for a figure between €15,000/ac and €20,000/ac like other similar properties in the wider Bandon area, this farm defied all expectations.

An executor sale, the property at Coolcullitha, Inishannon, Co Cork, had received significant interest before coming on the market with Hodnett Forde Property Services, Clonakilty.

Previously a dairy farm, the top-quality level land is all in one block. It was advertised for sale by private treaty in its entirety or in lots.

The residential farm at Coolcullitha, Innishannon is in close proximity to the N71 road.

When it came to the business end of proceedings, lot B, comprising of 41ac, ended up doing much of the heavy lifting with a final price of €1.605m. It’s understood that two local dairy farmers were involved in the final shake up before it went sale agreed for €39,146/ac.

The farm was laid out in 17 different fields and it was sold in three lots.

Lot C comprised of 24.5ac and an aged but functional farmyard. It made €700,000 (€28,571/ac) and the successful purchaser is believed to be a local businessman with farming interests.

The remainder of the property - a two-storey stone-built house with old stone farm buildings set on 3.3ac - was acquired by a businessman who is also from the area for €381,000.

The house has not been lived in for a number of years and was offered along with 3.8ac.

This lot was guided at between €275,000 and €300,000, with the presence of a house and its proximity to Bandon and Cork city adding appeal to it.

A few hundred metres away from the N71 road that leads from the city to west Cork and 4km north of Inishannon village, a farm such as this was always going to attract significant attention.

Its presence in a dairy heartland and with threats to the nitrates derogation still not abated are all sure to have been factors in its final price.