Two recent auctions saw strong prices paid for good farmland.

In Co Cork, a 121ac residential holding at Ballyellis, Buttevant, was sold at auction for €2.55m or €21,074/ac by auctioneers Dick Barry & Son.

A big attendance of 130 people was at the sale in the Charleville Park Hotel. Bidding opened at €1.4m. Five bidders then took the price to €2m in increments of €50,000.

Two of the bidders then competed, making bids of €10,000 and €20,000, up to the €2.27m mark. Auctioneer Michael Barry then declared the property on the market.

The same two bidders continued to compete, making bids of €5,000 and €10,000. However, a new bidder then entered the fray at €2.48m.

The hammer dropped at €2.55m to a Co Clare-based solicitor acting in trust for a client.

Ballyellis had 121ac of land in one block.

"We are delighted with the result, which further proves demand is strong for large-scale commercial farming enterprises," said Michael Barry. “The auction topped off a strong year of farm and land sales, both by auction and private treaty, with a trend of consolidation of existing farms.”

Online bidders

Co Wexford auctioneers Quinn Property sold a 57.4ac residential holding located at Peppardscastle, Ballygarrett, Gorey, for €920,000 or in excess of €16,000/ac.

The farm in Wexford was 57.4ac in one block.

The property had been guided at €10,000 to €12,000 per acre and was offered in three lots at an in-person and online auction.

The house at Peppardscastle.

Lot 1, the house and yard on 33.165ac, opened at €300,000 and several online bidders brought the bidding to €400,000.

Lot 2, 24.214ac, opened at €200,000 and, again, online bidders brought the bidding to €300,000. This left a total of €700,000 bid for the two lots.

Auctioneer David Quinn then sought bids in excess of €700,000 for lot 3, the entire, and received bids of €720,000 and then €740,000, both from the floor.

The auctioneer then returned to lots 1 and 2, but no further offers were made, so the focus was now on the entire.

Several bids were then made, bringing the bidding to €920,000, at which point the farm was declared on the market. There were to be no more bids and the hammer fell at this price.

“There is continued strong demand for agricultural land in the north Wexford area,” David Quinn said after the sale.