Kilkenny farm completely surprises at €16,600/acre

Despite having limited road frontage, price certainly reflected quality at the auction of a 41.3-acre non-residential farm at Lowergrange, Goresbridge, Co Kilkenny. The property was guided in the region of €10,000 to €12,000/acre prior to auction but went on to make an unexpected €16,600/acre with the help of four active bidders. Described as “super limestone ground”, the land is accessed off a cul de sac and comes with circa 3.5 acres of a disused quarry.

At the auction, selling agent Ed Donohoe from Donohoe Town and Country, Kilkenny, opened the bidding at €350,000 which quickly moved in €25,000 increments to €500,000. After this, €5,000 bids were taken and the sale progressed past the €600,000 mark to €605,000, which was the first chance that Ed got to consult with the vendors. On his return, the land was declared on the market at €605,000 and another €80,000 secured the sale at €685,000 for an accountant who was thought to be acting for someone with an equestrian background.

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Among the underbidders was another equine-based buyer, a local farmer and a businessman. The fact that the property came with a disused quarry, which still contained some stone, encouraged some quarry-based interest on the build-up to the auction.

€11,500/acre for Laois land

Over €11,500/acre was realised at the auction of a 41.57-acre non-residential farm at Corrig, Portarlington, Co Laois. Described as “very good quality”, the land is laid out in four fields and comes with frontage to three different roads.

On the day, selling agent Ronan O’Connor from CME Auctioneers, Naas, initially offered the property in two separate lots that included 37.5 acres, which was bid to €340,000, while the remaining circa four acres peaked at €37,000. Following this, bidding for the entire opened at €380,000 and with the help of three local bidders the sale price progressed to €435,000, at which stage the property was declared on the market. A few minutes later the hammer fell at €480,000 (over €11,500/acre) in trust to a farmer from the area. The other two bidders were also farmers from the area.

Elsewhere, the same agent offered a bungalow residence standing on 16 acres at Oldmill, Kill, Co Kildare, for sale in three lots by public auction. The bungalow on half an acre was purchased by a young couple for €253,000; the stone outbuildings on 2.7 acres was bought in trust for €85,000; while the remaining 12.7 acres was withdrawn at €187,000 and is under negotiation.

€14,000/acre for 25 acres near Ferns

Buoyant demand for land in north Co Wexford saw a 25-acre non-residential parcel at Ballamon, Tombrack, Ferns, sell under the hammer for €14,000/acre last week.

After opening at €200,000, two interested parties drove the sale price past the €300,000 mark to €305,000, at which stage auctioneer David Quinn, Carnew and Gorey, declared the land on the market. But things didn’t stop there and it took another €45,000 before the hammer finally fell at €350,000 to a local dairy farmer. At €14,000/acre, the sale price certainly reflected the quality of the land, which was laid out in just two tillage fields.

21.5 acres withdrawn near The Ballagh

A couple of days later, David also auctioned a 21.5-acre parcel located at Ballyknockan, The Ballagh, Enniscorthy. After opening at €150,000, the bidding progressed to €190,000, at which stage David withdrew the property.

It’s understood that some progress has been made since the auction and while talks are still continuing, David hopes to get it across the line in the near future. Described as a “well, laid out package”, the land is set out in a range of grass paddocks and comes with an extensive range of modern sheds. It is guided in the region of €10,000 to €11,000/acre.

22 acres near Oylgate makes €195,000

Meanwhile, last week’s auction of a 22-acre parcel of land at Jamestown, Oylgate, Enniscorthy, was short and sweet for auctioneer David Quinn, with proceedings over within minutes. After opening at €150,000, the property was quickly placed on the market at €190,000 and seconds later, sold at €195,000 (almost €8,900/acre) to a local dairy farmer. The underbidder was an Enniscorthy-based auctioneer acting in trust. Despite having laneway access only and a right of way through the land, the €8,900/acre price tag is deemed a fine price. About 19 acres of the property is under grass while circa two acres extend down to the River Slaney and acts as a floodplain. The land was guided in the region of €170,000 prior to auction.

9.5-acre field in Offaly averages €12,100/acre

Despite a slow start, a 9.5-acre field at Frankford, Kilcormac, Co Offaly, sold under the hammer last week for €115,000. Selling agent Gordon Cobbe from GVM Auctioneers, Tullamore, opened the biding at €80,000 and although it took a while for the two main players to kick into gear, the bidding steadily progressed in €5,000 increments to €115,000. At this stage, Gordon was instructed to place the land on the market at €115,000, and with no further movement the hammer quickly fell at €12,100/acre to a local community group. Adjoining the local GAA pitch, the land is currently in grass and comes with good road frontage.