Last week, a 28.7-acre farm situated on the outskirts of the town of Cahir, Co Tipperary, sold for €730,000 or €25,435/acre.

The land, which is all in grass and has frontage onto the main Cahir/Clonmel road and the Convent road, had been guided between €10,000-€15,000 per acre prior to auction. Auctioneer Joseph Coogan, Castlecomer, said it was a brisk auction with bids coming thick and fast. He offered the land in two separate lots first time around. Lot one comprised 6.2 acres and the second lot extended to 22.5 acres. Both lots were bid to a total of €330,000. Coogan then offered the property in its entire and immediately received a bid of €340,000.

From here, two individuals battled it out for the land before a bid of €730,000 was enough to secure the land.

Irish Country Living understands that the land was bought by a local man who believes the land has significant development potential given its proximity to the edge of Cahir.