Cavan estate fails to sell at auction

Cavan estate fails to sell at auction

A bird's eye view of Cornasesk Estate

Estate agents Savills have described the failed sale of the 182 acre Cornasesk Estate in Co Cavan as “very disappointing.”

The property, located near Virginia, was put up for auction last week but just a single bid was made for it at a full room in the Lakeside Manor Hotel.

Guided at €1.2 million, the only bid offered was for €910,000.

The estate includes parkland pasture, woodland, a small gate lodge, stone-built farm buildings and the ruin of the former Cornasesk House, which was destroyed by fire in 2006.

It enjoys panoramic views over Lough Ramor on the edge of Virginia and comes with €27,000 in entitlements.

Pat O’Hagan of Savills admitted that the failure to sell last week was “disappointing” but said he believed a number of customers in the auction room had a genuine interest but needed time to organise finance.

He said he expected further interest in the holding over the coming weeks.

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