An auction of mixed fortunes

Ed Donohoe of Donohoe Properties, Kilkenny, offered Mount Loftus on 150 acres to auction last week. It was a day of mixed emotions in the Clubhouse Hotel in Kilkenny as the highly anticipated auction of 150 acres failed to sell in its entirety. However, what did sell, sold well, leaving the seller and Ed Donohoe of Donohoe Properties with some consolation.

The holding was offered in three lots located in the townlands of Pollagh, Tinnacouse and Tomnahaw, which is a rural farming hinterland sited just off the Graiguenamanagh-to-Kilkenny road.The first and third lot sold, with the substantial lot two standing on 90 acres not selling. Lot one, circa 35 acres, opened at €200,000 and steadily rose to €280,000, at which point the holding was withdrawn. The guide was €340,000 prior to auction. Two bidders got stuck into the bidding, with the highest underbidder negotiating with the vendors after auction. The holding was then sold at a far higher price. The buyer was a local drystock farmer. This lot is located at Mount Loftus, Goresbridge. It contains good-quality grassland that was formerly part of the Mount Loftus House Estate.

Lot two was a very different story. The circa 90 acres, which contained the residence and outbuildings, was guided for €900,000. However, the interest on the day was not there and the holding stood still at €700,000 with no bids. Negotiations are still ongoing. The residence is a traditional two-storey farmhouse which was renovated in 1990. It is a three-bedroom house that is structurally sound but in need of modernisation.

Lot three was, without question, the highlight sale. Offered in nine acres, it was located in Pollagh, Skeoughvosteen. Opening at €80,000, two bidders pushed the price up to €120,000, at which point it was placed on the market. When the hammer finally fell, the holding at achieved €135,000 or €15,000/ac. The highest bidder was an adjoining drystock farmer.

The lands on each lot are all laid out in grass and presented in one main block in four divisions. They are of good quality and well known as fattening pasture, according to Donohoe. The guide for the entire is €1.5m.

Laois auction hits €12,500/ac

A top auction saw a good-quality 47-acre holding sell for a solid €587,000. Kilkenny auctioneer Joseph Coogan once again oversaw an eventful auction, this time in Co Laois. The property in question was 47 acres in Luggacurran, circa 10km from Stradbally and 17km from Portlaoise.

Offered in two lots, both exceeded their guides as five bidders dug their teeth into the holdings. The first lot, a 16-acre parcel with road frontage, had three of these bidders. Opening at €120,000, it flew upwards to €205,000, at which point it went on the market. Further bidding pushed it up more before the hammer finally fell at €227,000, or an impressive €14,200/ac. The buyer was a local drystock farmer.

The second lot was bought by the same buyer as lot one. This holding was 31 aces and opened at €250,000. Two local bidders pushed the price towards €360,000, at which point it was placed on the market and sold. The entire was offered but no bids were placed.

The holding was sold by a family who have moved away from the area. The auction took place in Coogan’s office in Castlecomer.

Plenty of activity at Galway auction for 27.5-acre holding

A 27.5-acre holding in Galway that was offered in two lots was auctioned recently. The first lot was a 19-acre holding with a derelict house. The land is good grazing ground and is located at Carrowmore, between Shrule and Headford. Guided at €150,000 prior to auction, it opened at €120,000 and was withdrawn. Negotiations continued with the highest bidder after auction and it was sold for more. This lot has no road frontage and there was local interest before the auction. The holding has been rented for the last number of years.

The second lot is an 8.5-acre parcel. Guided for €10,000/ac prior to auction, it opened at €60,000. Two bidders competed and a local beef farmer won the bidding as the hammer fell at €90,000. Interest for this lot was also strong and this showed during proceedings. The sale was handled by Pat Burke of Headford Marts.