Raymond Potterton sold a 44ac residential farm at Drumbarragh, Kells, Co Meath, for €661,000, above the guide price.

Five bidders took part in the auction, indicating the good level of interest.

The three-bedroom house is in need of modernisation.

The yard has a two-bay hayshed with lean-to and a number of old sheds.

GVM Limerick sold three properties at auction in the space of one hour. First up was 87ac at Tullabracky, Bruff.

This 87ac holding at Tullabracky, Bruff, Co Limerick, was sold by GVM for €1.13m.

Bidding opened at €800,000 and three bidders took part. The farm went on the market at €1.1m and sold under the hammer at €1.13m or €13,000/ac.

Next was 9.6ac at Lemonfield, Crecora. Bidding opened at €100,000 and the holding went on the market at €180,000. It sold under the hammer at €260,000 or €27,000/ac.

Finally, the auctioneers sold a 1ac plot at Ardshanbally, Adare, for €42,000. GVM auctioneer Tom Crosse said the three sales were satisfactory for venders and buyers.

GVM Kilmallock sold 80ac Garrydoolis, Pallasgreen, Co Limerick, for €15,200/ac.

GVM also sold this 80ac farm at Garrydoolis, Pallasgreen, Co Limerick, at auction.

The property was offered for sale in three lots. Lot 1 was 57.5ac, with an old farmhouse and farm buildings. Lot 2 was 22.5ac and Lot 3 was the entire.

After the initial bidder, the bids were €610,000 for Lot 1, €320,000 for Lot 2 and €1,02m for Lot 3.

After consultations, the entire farm was placed on the market. After bidding for 15 minutes, the property was knocked down to an online bidder at €1,215,000.

Upward curve

“The result showed that land values are on an upward curve, with great confidence in land among both farmers and investors alike,” auctioneer Richard Ryan said.

In Co Meath, REA Thomas Potterton sold a 47ac farm with derelict residence at Tanderagee, Longwood, at auction. The property was offered in two lots, the house and yard on 39ac and the 8.5ac across the road.

Three bidders brought bidding for the smaller parcel to €145,000. The larger parcel was then bid up to €500,000. There was no higher bidding for the entire.

When bidding on the lots resumed, the 8.5ac was sold at €145,000 to a local farmer and the 39ac was sold to a business person with farming interests for €512,000. The entire proceeds came to €657,000.