A circa 18-acre non-residential parcel at Bannagagole, Old Leighlin, Co Carlow, went for public auction last week.

There was substantial interest on the day with five active bidders fighting it out for the parcel. The property was offered in two seperate lots of circa 15 acres and circa three acres. However, the interest was for the entire.

Bidding on the day opened at €190,000 and quickly progressed to €250,000.

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At this point it was placed on the market. This did little to halt the eager bidders, with bids continuing until the parcel reached a staggering €490,000, which equates to over €27,200/acre, at which point the hammer dropped. The property was bought in trust by a solicitor with the final purchaser undisclosed.

The land is all currently under pasture and comes with ample road frontage. Pat Gannon Auctioneers, Kilkenny, handled the sale of the property.

48 acres Kilkenny

With a mixture of forestry and rough ground, this 48-acre parcel at Baurnafea, Paulstown, Co Kilkenny, was never destined to set the world alight when it went to auction last week, however, it still received a solid result.

The parcel was offered in three separate lots of circa 11 acres, circa 23 acres and circa 14 acres, all of which is currently in forestry, as well as the entire. It was to be the latter which peaked the interest, with an opening bid of €200,000 received.

Steady bidding saw this rise to €250,000 at which point it was placed on the market. The property was to only rise by a further €20,000 to reach €270,000, at this point the hammer dropped with a local landowner believed to be the buyer. The final price gave an average of slightly over €5,600/acre.

Accompanying the circa 14 acres in forestry, a large proportion would be described as rough grazing, which would also be suitable for forestry production. Currently there are premiums of €2,150/per annum on the 14 acres of forestry, with 12 years payments remaining. The property was guided at €5,000/acre prior to auction by Donohoe Properties, Kilkenny, who handled the sale.

48 acres Limerick

A second 48-acre parcel also went for auction last week. This time in Limerick, close to the campus of Limerick University and the Plassey Tech Park. However the outcome was not to be straightforward as the previous sale. The property was offered in the entire or in three seperate lots of circa 19 acres, circa 13 acres and circa 16 acres.

The first lot of circa 19 acres also came with a traditional farmhouse and a range of outbuildings that are in need of some refurbishment work. This lot was bid to €190,000.

The second parcel of circa 13 acres was bid to €150,000 while the third lot of circa 16 acres reached €160,000. Accumulatively, these parcels reached €500,000. However, one further bid of €505,000 was placed on the entire.

This was not enough to see the hammer drop, with the property subsequently withdrawn. Negotiations are currently ongoing for the sale according to Tom Crosse of GVM Limerick auctioneers, who is responsible for the sale of the property.