Offered by Andrew Nolan of Goffs, the super Greenogue Farm was bought for just €10,000 over its guide price. When the hammer dropped, the previously guided €2.7m holding sold for €2.71m, or just over €15,000/ac. Nolan, who has was highly confident about the farms chances prior to auction, nailed the pre-auction guide price on this one.
The auction
The auction bidding was unsurprisingly dominated by auctioneers and businesspeople. One businessman and three auctioneers bid in trust for the farm on the day. There was no hanging about as the farm opened quickly at €2m, or over €11,100/ac. Four bidders chased the property, with three men on the phone battling the whole way, according to Nolan.
Bidding was steady and time was taken to flesh out the price as the farm went up in increments of €25,000 and €50,000 before being placed on the market at €2.65m or €14,700/ac. One last push from Nolan got the farm up to €2.71m or €15,000/ac as the hammer subsequently fell. The buyer was undisclosed, but the holding was believed to have been bought in trust for a local.
Greenogue Farm encompasses almost 180 acres and made €2.71m or €15,000/ac at auction.
The farm
A super holding, the majority of the land (160 acres) is in tillage, with the remainder in grass and internal roadway. The lands are currently in stubble having harvested a mixture of winter and spring barley this year. The ground has the quality to deliver a broad range of crops and over the years producing excellent yields, with between 3.8t-4t of winter barley grown per acre and up to 4.5t/ac of winter wheat produced. The vendor was Richard McDonagh, the same vendor selling Rowlestown Farm on 320 acres for a guide of €6.4m (see page 22).
Offered by Andrew Nolan of Goffs, the super Greenogue Farm was bought for just €10,000 over its guide price. When the hammer dropped, the previously guided €2.7m holding sold for €2.71m, or just over €15,000/ac. Nolan, who has was highly confident about the farms chances prior to auction, nailed the pre-auction guide price on this one.
The auction
The auction bidding was unsurprisingly dominated by auctioneers and businesspeople. One businessman and three auctioneers bid in trust for the farm on the day. There was no hanging about as the farm opened quickly at €2m, or over €11,100/ac. Four bidders chased the property, with three men on the phone battling the whole way, according to Nolan.
Bidding was steady and time was taken to flesh out the price as the farm went up in increments of €25,000 and €50,000 before being placed on the market at €2.65m or €14,700/ac. One last push from Nolan got the farm up to €2.71m or €15,000/ac as the hammer subsequently fell. The buyer was undisclosed, but the holding was believed to have been bought in trust for a local.
Greenogue Farm encompasses almost 180 acres and made €2.71m or €15,000/ac at auction.
The farm
A super holding, the majority of the land (160 acres) is in tillage, with the remainder in grass and internal roadway. The lands are currently in stubble having harvested a mixture of winter and spring barley this year. The ground has the quality to deliver a broad range of crops and over the years producing excellent yields, with between 3.8t-4t of winter barley grown per acre and up to 4.5t/ac of winter wheat produced. The vendor was Richard McDonagh, the same vendor selling Rowlestown Farm on 320 acres for a guide of €6.4m (see page 22).
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