Small sized holdings have met strong demand this year and that trend continued at recent auctions.
Quinn Property had a successful sale of 16ac at Borkill More, Hacketstown, Co Carlow, by online auction. This property – equidistant from Kiltegan and Hackestown – was offered in lots. Lot 1 was 11.7ac and Lot 2 was 4.4ac.
There were 10 registered bidders for the property auctioneer, David Quinn said. On the day, Lot 1 was bid up to €130,000 in the first round. After discussions, and with three active bidders, Lot 1 climbed to €160,000 at which point it went on the market. With no further bids, it was sold at €160,000, making approximately €13,675/ac.
Lot 2 reached €80,000 in the opening bidding and with no further bids, it was sold under the hammer at this price which equalled approximately €18,180/ac. The overall price equated to approximately €15,000/ac.
Fox & Gallagher sold a 63.31ac holding at Treanlaur and Castlebarnagh,
Co Mayo. The holding had two houses, a slatted house and a hayshed and was divided into four lots. Bidding opened from the floor and was then followed by multiple bids from both online and those in the room. All lots were sold on the day and the total proceedings came to €489,000.
P.F. Quirke & Co had three land auctions recently. One small parcel sold at auction while the other two larger parcels sold afterwards following negotiations.
The first lot was 10ac at Rathmoley, Killenaule. This achieved €150,000 under the hammer, equating to €15,000/ac.
On the same day the auctioneer also offered 25ac at Dunguib, Killenaule. This was bid to €265,000 at the auction and was sold for a higher price later the same day. Both of these parcels were in permanent pasture and located close to Killenaule.
Finally, auctioneer Pat Quirke offered 44ac at Faugheen, Carrick On Suir. This is good grassland just outside Faugheen village.
The property was bid to €550,000 at auction but was not sold. Pat Quirke held negotiations over the following days with the most active parties and reached a sale in the following week for a substantially higher price.
“Demand for land is very high this year,” he said afterwards. “We had a number of large sales through our office over the summer. I also expect land rental prices will remain high for next spring.”