GVM held a successful auction last week of the edge-of-town holding at Clara, Co Offaly. This property amounted to 102ac but was split into a number of different blocks. It included two farmyards and a small house. As a result the holding was sold in five lots.
The entire had been guided at €950,000 to €1m and the total realised was approximately €1m. The auction was held on the land with a limit of 15 people allowed be present. Alongside this, online bidding was facilitated using LSL Auctions. That firm said that at one point 138 people were logged on and watching the auction unfold on their screens.
Lot 1 was 16ac. It opened at €100,000 and sold for €195,000, with two active bidders. The successful bidder was online - sitting at a laptop or mobile phone out in Abu Dhabi. The individual is Irish. The second bidder was nearer at hand - a local farmer who was present in person at the auction.
Lot 2 was a cottage on 1.16ac. This opened at €50,000 and sold at €105,000. There were three bidders and the successful buyer is a local.
Lot 3 was a block of land of just over 42ac – the best land on the holding according to auctioneer Gordon Cobbe who was in charge on the day. It opened at €300,000 and was knocked down to a local dairy farmer at €400,000. He had to beat off one other bidder.
Lot 4 was the farmyard on 41ac. This opened at €200,000 – and there were no further bids. It was withdrawn and private negotiations were held with the one bidder. A sale was agreed at a higher price – the buyer is a local young beef farmer.
Lot 5 was a large shed on 0.7ac. It opened at €20,000 and was bid up to €40,000. This was shy of the reserve and the Lot was withdrawn. Negotiations were then held and it, too, was sold – the buyer is a neighbouring business.