A 32-acre parcel of land on the edge of Tipperary town was withdrawn from auction last week.

Auctioned last Wednesday, the land on the outskirts of Tipperary town, at Coolnaherin and Collegelands, was withdrawn at €355,000, or €11,100/ac. Opening at €280,000, or €8,750/ac, two bidders got stuck in before an auction room of 20 people.

The auctioneer handling the sale was Matt Ryan of Matt Ryan Auctioneers, and he halted proceedings when the property reached €355,000 and no further bids were received. The final price of €11,100/ac was just below the guide, which stood at between €12,000/ac and €15,000/ac.

The land is described as multi-purpose by Ryan. Currently in grass, the agent told Irish Country Living that the farm would suit a dairy, beef or equine buyer.

The ground would be of heavier nature and may not suit a tillage enterprise. It also contains 0.5km of road frontage. Due to its close proximity to Tipperary town, it was previously zoned but is not presently. It was offered in lots prior to auction.

Ryan said that interest was high before the auction and he was surprised with the result, however he still remains positive about the outcome at this juncture. Negotiations are ongoing, he confirmed.

The auction took place at Ballykisteen Hotel in Tipperary.