Locals and neighbours packed into the Shearwater Hotel, Ballinasloe for an eagerly anticipated auction of a lovely 120-acre residential farm situated at Cooloo, Moylough, Co Galway last week.
The fact that farms are rarely offered for sale by auction in the area coupled with the size of the Cooloo farm, generated a lot of passing interest and proved a major talking point in the build-up to the big day. Cooloo was a rare gem for north Galway and was another of those properties that had the potential to surprise at auction. And that it certainly did. Although guided at €900,000, Cooloo went on to completely surpass expectations when it was knocked down at €1,305,000 or almost €10,900/acre.
The buyers were three local farmers who came together and bought it as a unit with the intention to subdivide. It’s understood that two of these farmers were renting the farm. The other three bidders included another Galway-based farmer, a Roscommon farmer and a Dublin-based buyer.
For more visit this week’s property pages in the Irish Farmers Journal.