Active auction rooms in the west
August has seen some solid results in the auction room. Leitrim and Sligo have seen parcels over 100 acres sell under the hammer at auction and this time it was the turn of Roscommon to have a number of successful auctions.
Three very impressive sales were accounted for as farms of varying sizes sold under the hammer. Circa 127 acres at Athleague, over 50 acres at Elphin and over 10 acres at Teermore, all went to the public over the month of August.
The number of interested parties at each auction, in particular Athleague, highlights not just the the demand for land within the county at the moment, but the successful route public auction can be to get the job done.
Over €800k for Athleague farm
Offered by Ivan Connaughton of Connaughton and Moran Auctioneers, the substantial 127-acre farm went to the market in mid-August. When the hammer fell, it made €805,000, or almost €6,350/ac. Considering the acreage and the presence of some heavier land, the final result was impressive.
Offered in five lots, including the entire package, the holding consisted of 80 acres of good land with the balance heavier soils. Other parts of the land was prone to flooding and in need of work, according to the auctioneer.
The entire was the first lot and this opened at €500,000. Rising quickly, it increased to €750,000, with the encouragement of three bidders before stopping at this price. Connaughton turned his attention to the individual offerings.
The first of these was the residence on just over an acre. This opened at €80,000 and flew to €125,000. In high demand, four bidders wanted the house, which was in need of modernisation. Placed on the market, it was sold under the hammer at €125,000 to a buyer in trust. The next lot was the most substantial in terms of acreage. Encompassing 85.4 acres of land, it opened at €400,000 and was bid up by three interested parties. It was eventually sold in trust for €485,000, or over €5,500/ac.
Lot four was almost 25 acres in total. It finished under the hammer at €140,000, or €5,670/ac, having opened at €100,000 and was competed for by three bidders. The final lot was over 15 acres and sold for €65,000, or €4,170/ac. Opening at €58,000, this lot is in need of work and has two bidders interested.
Elphin land makes
€11,000/ac
A number of auction around Elphin have proved fruitful this summer and the over 50 acres at Clogher Beg and Clogher Mor was no different. Similar to Atheague, this holding was also offered in five lots, including the entire. Connaugton also handled this sale.
It was the fourth individual lot of this 50 acres that reaped the greatest of rewards.
The 10-acre plot that made €109,000 or just under €11,000/ac, well above the county’s average.
The farm as a whole was described as very good land, and was bid in its entirety to €410,000, or €8,200/ac, after opening its doors at €350,000, or €7,000/ac.
It was the individual lots however that proved to do the business on the day. The first of these was almost 13 acres and sold under the hammer for €130,000, or €10,000/ac, having opened at €70,000. The next lot was almost 19 acres. It opened for €130,000 and went to €194,000, or €10,210/ac.
A smaller nine acre parcel sold for €60,000, or €6,600/ac, significantly bringing down the average. As mentioned, the final lot made a significant €109,000, or over €11,000/ac.
Circa 10 acres at Teermore, Co Roscommon, sold under the hammer for €132,000 at auction in August.
€13,500/ac after 38 bids in Roscommon
The third Roscommon farm also produced the goods for the vendors recently. Albeit small acreage, the 10-acre holding sold under the hammer for a comprehensive €132,000, or €13,200/ac.
It took 38 bids to sell this good quality farm in Teermore in Roscommon. Three bidders, all beef farmers did their best to secure it and the rigorous bidding ensured a solid price was always going to be achieved.
When John Kelly of Property Team Smith Kelly Scott started the bidding at €80,000, or €8,000/ac, it did not take long to get the holding to €100,000. At this point it was put on the market. Three bidders became two as 35 onlookers watched the property fly to €132,000, or €13,200/ac. The hammer fell and a beef farmer in the locality had secured the holding.
It is believed that the highest under-bidder was also a neighbouring farmer. The third bidder was believed to be from Leitrim.
Active auction rooms in the west
August has seen some solid results in the auction room. Leitrim and Sligo have seen parcels over 100 acres sell under the hammer at auction and this time it was the turn of Roscommon to have a number of successful auctions.
Three very impressive sales were accounted for as farms of varying sizes sold under the hammer. Circa 127 acres at Athleague, over 50 acres at Elphin and over 10 acres at Teermore, all went to the public over the month of August.
The number of interested parties at each auction, in particular Athleague, highlights not just the the demand for land within the county at the moment, but the successful route public auction can be to get the job done.
Over €800k for Athleague farm
Offered by Ivan Connaughton of Connaughton and Moran Auctioneers, the substantial 127-acre farm went to the market in mid-August. When the hammer fell, it made €805,000, or almost €6,350/ac. Considering the acreage and the presence of some heavier land, the final result was impressive.
Offered in five lots, including the entire package, the holding consisted of 80 acres of good land with the balance heavier soils. Other parts of the land was prone to flooding and in need of work, according to the auctioneer.
The entire was the first lot and this opened at €500,000. Rising quickly, it increased to €750,000, with the encouragement of three bidders before stopping at this price. Connaughton turned his attention to the individual offerings.
The first of these was the residence on just over an acre. This opened at €80,000 and flew to €125,000. In high demand, four bidders wanted the house, which was in need of modernisation. Placed on the market, it was sold under the hammer at €125,000 to a buyer in trust. The next lot was the most substantial in terms of acreage. Encompassing 85.4 acres of land, it opened at €400,000 and was bid up by three interested parties. It was eventually sold in trust for €485,000, or over €5,500/ac.
Lot four was almost 25 acres in total. It finished under the hammer at €140,000, or €5,670/ac, having opened at €100,000 and was competed for by three bidders. The final lot was over 15 acres and sold for €65,000, or €4,170/ac. Opening at €58,000, this lot is in need of work and has two bidders interested.
Elphin land makes
€11,000/ac
A number of auction around Elphin have proved fruitful this summer and the over 50 acres at Clogher Beg and Clogher Mor was no different. Similar to Atheague, this holding was also offered in five lots, including the entire. Connaugton also handled this sale.
It was the fourth individual lot of this 50 acres that reaped the greatest of rewards.
The 10-acre plot that made €109,000 or just under €11,000/ac, well above the county’s average.
The farm as a whole was described as very good land, and was bid in its entirety to €410,000, or €8,200/ac, after opening its doors at €350,000, or €7,000/ac.
It was the individual lots however that proved to do the business on the day. The first of these was almost 13 acres and sold under the hammer for €130,000, or €10,000/ac, having opened at €70,000. The next lot was almost 19 acres. It opened for €130,000 and went to €194,000, or €10,210/ac.
A smaller nine acre parcel sold for €60,000, or €6,600/ac, significantly bringing down the average. As mentioned, the final lot made a significant €109,000, or over €11,000/ac.
Circa 10 acres at Teermore, Co Roscommon, sold under the hammer for €132,000 at auction in August.
€13,500/ac after 38 bids in Roscommon
The third Roscommon farm also produced the goods for the vendors recently. Albeit small acreage, the 10-acre holding sold under the hammer for a comprehensive €132,000, or €13,200/ac.
It took 38 bids to sell this good quality farm in Teermore in Roscommon. Three bidders, all beef farmers did their best to secure it and the rigorous bidding ensured a solid price was always going to be achieved.
When John Kelly of Property Team Smith Kelly Scott started the bidding at €80,000, or €8,000/ac, it did not take long to get the holding to €100,000. At this point it was put on the market. Three bidders became two as 35 onlookers watched the property fly to €132,000, or €13,200/ac. The hammer fell and a beef farmer in the locality had secured the holding.
It is believed that the highest under-bidder was also a neighbouring farmer. The third bidder was believed to be from Leitrim.
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