Indications would suggest it has been a good year for auctions, certainly relative to some lacklustre private treaty sales.
More good results were seen around the country, with land performing well. According to numerous auctioneers around the country, the market for residential farms has been tough but some really strong auctions were noted recently.
Irish Country Living looks at some of the most talked about auctions over the last few weeks.
Dublin man buys Offaly residential after auction
A 76-acre farm in Kilcooney, Geashill, Co Offaly, with a refurbished cottage sold to a Dublin man after being withdrawn from auction at €575,000 or €7,500/ac. Auctioneer Matt Dunne, of Matt Dunne Auctioneer and Estate Agent, negotiated after the auction. A Dublin man in his 50s offered the vendor €600,000, or €7,900/ac, for the holding during the negotiations and the farm was sold.
It is believed the Dublin man had land around Rathcoole. Dunne described the buyer as a ‘happy-go-lucky, nice fellow’. The auction itself opened at €400,000, or €5,300/ac, and went up in increments of €25,000. The farm was contested after €500,000 by two outsiders of the area. The first was a solicitor and the second was the eventual buyer.
The 76 acres and this residence in Geashill sold for €600,000, or €7,900/ac.
The 76 acres in Geashill sold for €600,000, or €7,900/ac.
Location: Kilcooney, Geashill, Co Offaly
Acres: 76
Result: Withdrawn
Selling price: €600,000, or €7,900/ac (after auction)
Buyer: Dublin man in his 50s
More interest expected for 15 acres
A super 15.75-acre packages at Ballyfarsoon, Monasterevin, Co Kildare, sold after auction, albeit with a reduced level of expected interest. Also offered by Matt Dunne, the manageable package sold for a little over its guide of €160,000, or over €10,150/ac, after being withdrawn from auction at €150,000, or just under €10,000/ac.
Opening at €130,000, or €8,250/ac, three bidders drove the farm towards €145,000, or €9,200/ac. The land, which was owned by three brothers, then stalled on €145,000. One of the brothers placed a bid on the holding for €150,000, at which point it was withdrawn. Negotiations after auction lasted a few days before the land was sold. The buyer was believed to be local. Speaking after the auction, Matt Dunne said he was “surprised there was not more interest in the land”.
Location: Ballyfarsoon, Co Kildare
Acres: 15.75
Result: Withdrawn
Selling price: sold for above guide of €160,000 or over €10,150/ac
Buyer: Believed to be a local man with equine interest
Kilkenny farm sells in lots
Located in a good agricultural area, this 63 acre residential farm located at Screhan near Windgap, Co Kilkenny, performed exceptionally well at auction. Going under the hammer for €1.17m, or €18,500/ac, the property was sold in lots, with all the buyers being local. The first of these lots was withdrawn from auction, having received no bids. This was the residence on an acre of ground.
The second lot, the house and farmyard on almost 31 acres, sold under the hammer for €650,000 and was contested by three bidders. It was eventually purchased by a dairy farmer. The value of the house was in the region of €150,000, bringing the agricultural value to €16,100/ac.
Lot three was a 16-acre parcel which sold under the hammer for €225,000, or €14,000/ac. Lot four, a quaint six acres sold for €115,000, or €19,000/ac, with the help of two bidders. The fifth lot sold for €180,000, or €16,300/ac, having increased from an opening bid of €130,000, or €11,800/ac. The auction took place at Carroll’s Hotel in Knocktopher.
Regarded as good grazing ground, it was rented by a dairy farmer in recent years and has been well maintained. The farm is not in one block and therefore flexibility was offered in terms of lots. It is currently all in grass. Sharon O’Brien handled the sale.
The residence at Screhan, Windgap, Co Kilkenny. With 63 acres it sold for €1.17m in lots.
Screhan, Windgap, Co Kilkenny, contains 63 acres sold for €1.17m in lots.
Location: Screhan, Co Kilkenny
Acres: 63
Result: Sold under the hammer
Selling price: €1.17m
Buyers: Two dairy, one beef and one unknown farmer
Mixed farm withdrawn at €2,800/ac
A mixed farm in Killsallagh near Edgeworthstown in Co Westmeath sold post auction after being withdrawn at €200,000, Irish Country Living has learned.
The farm, encompassing 71 acres, included 15 acres of pine forestry, 20 acres of bog and 35 acres of grassland. Receiving only one bid of €200,000, or €2,800/ac, it went into private negotiations after the auction. Two farmers showed interest in the farm during these negotiations and it was sold for substantially higher than the guide.
Offering the farm was Dillon Murtagh of Murtagh Bros, Mullingar, Co Westmeath.
Location: Killsallagh, Edgeworthstown, Co Westmeath
Acres: 71
Result: Withdrawn
Selling price: Undisclosed
Buyer: Local farmer
Daingean residential sells in the entire
A residential packages in Daingean in Offaly sold for €270,000, or €6,400/ac, to a local builder in the locality. Offered originally in lots, the property was receiving higher bids in the entire so the focus shifted onto this.
The first lot was 23 acres with over three acres of Sitka Spruce. This lot opened at €150,000, or €6,500/ac, and was held at €190,000, or €8,200/ac. The second lot was a 19-acre farm with a derelict house. There was also 10 acres of forestry here. One bid of €50,000, or €2,600/ac, was placed and this was held.
When a bid of €260,000, or €6,200/ac, was placed on the entire, it was put on the market and sold for €270,000, or €6,400/ac. The buyer was Edward Spollan, a local builder.
Matt Dunne, of Matt Dunne Auctioneer and Estate Agent, Portarlington, also handled this sale.
Location: Daingean, Co Offaly
Acres: 42
Result: Sold under the hammer
Selling price: €270,000, or €6,400/ac
Buyer: Edward Spollan (a local builder)
Indications would suggest it has been a good year for auctions, certainly relative to some lacklustre private treaty sales.
More good results were seen around the country, with land performing well. According to numerous auctioneers around the country, the market for residential farms has been tough but some really strong auctions were noted recently.
Irish Country Living looks at some of the most talked about auctions over the last few weeks.
Dublin man buys Offaly residential after auction
A 76-acre farm in Kilcooney, Geashill, Co Offaly, with a refurbished cottage sold to a Dublin man after being withdrawn from auction at €575,000 or €7,500/ac. Auctioneer Matt Dunne, of Matt Dunne Auctioneer and Estate Agent, negotiated after the auction. A Dublin man in his 50s offered the vendor €600,000, or €7,900/ac, for the holding during the negotiations and the farm was sold.
It is believed the Dublin man had land around Rathcoole. Dunne described the buyer as a ‘happy-go-lucky, nice fellow’. The auction itself opened at €400,000, or €5,300/ac, and went up in increments of €25,000. The farm was contested after €500,000 by two outsiders of the area. The first was a solicitor and the second was the eventual buyer.
The 76 acres and this residence in Geashill sold for €600,000, or €7,900/ac.
The 76 acres in Geashill sold for €600,000, or €7,900/ac.
Location: Kilcooney, Geashill, Co Offaly
Acres: 76
Result: Withdrawn
Selling price: €600,000, or €7,900/ac (after auction)
Buyer: Dublin man in his 50s
More interest expected for 15 acres
A super 15.75-acre packages at Ballyfarsoon, Monasterevin, Co Kildare, sold after auction, albeit with a reduced level of expected interest. Also offered by Matt Dunne, the manageable package sold for a little over its guide of €160,000, or over €10,150/ac, after being withdrawn from auction at €150,000, or just under €10,000/ac.
Opening at €130,000, or €8,250/ac, three bidders drove the farm towards €145,000, or €9,200/ac. The land, which was owned by three brothers, then stalled on €145,000. One of the brothers placed a bid on the holding for €150,000, at which point it was withdrawn. Negotiations after auction lasted a few days before the land was sold. The buyer was believed to be local. Speaking after the auction, Matt Dunne said he was “surprised there was not more interest in the land”.
Location: Ballyfarsoon, Co Kildare
Acres: 15.75
Result: Withdrawn
Selling price: sold for above guide of €160,000 or over €10,150/ac
Buyer: Believed to be a local man with equine interest
Kilkenny farm sells in lots
Located in a good agricultural area, this 63 acre residential farm located at Screhan near Windgap, Co Kilkenny, performed exceptionally well at auction. Going under the hammer for €1.17m, or €18,500/ac, the property was sold in lots, with all the buyers being local. The first of these lots was withdrawn from auction, having received no bids. This was the residence on an acre of ground.
The second lot, the house and farmyard on almost 31 acres, sold under the hammer for €650,000 and was contested by three bidders. It was eventually purchased by a dairy farmer. The value of the house was in the region of €150,000, bringing the agricultural value to €16,100/ac.
Lot three was a 16-acre parcel which sold under the hammer for €225,000, or €14,000/ac. Lot four, a quaint six acres sold for €115,000, or €19,000/ac, with the help of two bidders. The fifth lot sold for €180,000, or €16,300/ac, having increased from an opening bid of €130,000, or €11,800/ac. The auction took place at Carroll’s Hotel in Knocktopher.
Regarded as good grazing ground, it was rented by a dairy farmer in recent years and has been well maintained. The farm is not in one block and therefore flexibility was offered in terms of lots. It is currently all in grass. Sharon O’Brien handled the sale.
The residence at Screhan, Windgap, Co Kilkenny. With 63 acres it sold for €1.17m in lots.
Screhan, Windgap, Co Kilkenny, contains 63 acres sold for €1.17m in lots.
Location: Screhan, Co Kilkenny
Acres: 63
Result: Sold under the hammer
Selling price: €1.17m
Buyers: Two dairy, one beef and one unknown farmer
Mixed farm withdrawn at €2,800/ac
A mixed farm in Killsallagh near Edgeworthstown in Co Westmeath sold post auction after being withdrawn at €200,000, Irish Country Living has learned.
The farm, encompassing 71 acres, included 15 acres of pine forestry, 20 acres of bog and 35 acres of grassland. Receiving only one bid of €200,000, or €2,800/ac, it went into private negotiations after the auction. Two farmers showed interest in the farm during these negotiations and it was sold for substantially higher than the guide.
Offering the farm was Dillon Murtagh of Murtagh Bros, Mullingar, Co Westmeath.
Location: Killsallagh, Edgeworthstown, Co Westmeath
Acres: 71
Result: Withdrawn
Selling price: Undisclosed
Buyer: Local farmer
Daingean residential sells in the entire
A residential packages in Daingean in Offaly sold for €270,000, or €6,400/ac, to a local builder in the locality. Offered originally in lots, the property was receiving higher bids in the entire so the focus shifted onto this.
The first lot was 23 acres with over three acres of Sitka Spruce. This lot opened at €150,000, or €6,500/ac, and was held at €190,000, or €8,200/ac. The second lot was a 19-acre farm with a derelict house. There was also 10 acres of forestry here. One bid of €50,000, or €2,600/ac, was placed and this was held.
When a bid of €260,000, or €6,200/ac, was placed on the entire, it was put on the market and sold for €270,000, or €6,400/ac. The buyer was Edward Spollan, a local builder.
Matt Dunne, of Matt Dunne Auctioneer and Estate Agent, Portarlington, also handled this sale.
Location: Daingean, Co Offaly
Acres: 42
Result: Sold under the hammer
Selling price: €270,000, or €6,400/ac
Buyer: Edward Spollan (a local builder)
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