Stuart & Company Auctioneers & Valuers, Castleisland, held a successful auction of a 45.5-acre non-residential farm at Kilcow, Castelisland, that made almost €26,000/acre on Wednesday 15 December.

With 40 people in attendance at the COVID-19-compliant event, held in the River Island Hotel, Castleisland, bidding was opened at €550,000.

It continued in increments of €50,000 before lowering to bids of €25,000. After 17 bids in almost as many minutes, the hammer fell on the 45.5-acre farm at €1,175,000. This equates to €25,824/acre.

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There was no guide price available ahead of the sale, but given the size of the holding, the land quality and location, farms like this would have been making in the region of €15,000/acre.

Auctioneers

A spokesperson for the auctioneers said: “We’re very pleased with the auction. We knew it would make good money, as there’s high demand for that type of land.

"The final price is indicative of the quality of the holding we were selling and also the interest in the Castleisland area for good-quality land.”

The auctioneers were unable to confirm the buyers’ identity, but sources in the area suggest the successful bidder was a local farmer.

There were five separate participants in the auction and given the interest in properties of this type and calibre, it leaves four under-bidders who could still be on the lookout for similar.

Top-quality agricultural land

Land quality and location are sure to have played a significant part in the auction proceedings.

Just 2.5km from Castleisland, it’s only 60m from the N23 Castleisland to Killarney Road. The property also has extensive road frontage on to the L2024, known locally as the Camp Road, which links Tralee Road to the Killarney Road.

All land is in one block and is laid out in six fields. Most of the fields are large in nature, with one a bit smaller than the rest. Mature hedgerows form the internal boundaries in this property.

Described as top-quality agricultural land with a slight incline allowing for good drainage, it is laid out in permanent pasture. In recent years, it has been used for grazing and the production of hay/silage.

The property has its own water connection, but no buildings, neither were there any BPS entitlements included in the sale.