The parcel, located at Balinahow near Tipperary town, sold under the hammer after a long auction hosted by Mark Donovan auctioneers.

Offered in three lots, Donovan had the challenge of offering and re-offering each individual lot before extracting the highest price from the entire.

The final price that was paid was €825,000, or €16,900/ac. The buyers were two local dairy men who joined forces to buy the farm.

Containing an old, traditional farmhouse, the land was of super quality. Well fenced and maintained, it was ready to use.

The prime location, as well as the quality of the land, were major contributing factors to the high price. Needless to say, when a quality farm is in demand, high prices will be seen.

Ballinahow, Co Tipperary.

The auction

The first lot, the house on an acre, opened at €80,000 and continued to €140,000 with the help of two bidders. The second lot, 48 acres, opened at €400,000, or €8,300/ac, and increased to €490,000, or €10,200/ac.

Four dairy farmers pushed hard for this lot, however when the attention turned to the entire, a bid of €650,000, or €13,500/ac, saw the initiative swing back in favour of the eventual buyers.

After some work, Donovan knocked down the property for €825,000, or €16,900/ac, to a solicitor acting on behalf of the farmers.

The sale highlights the level of competition in the county for good-quality farms.