Farm Ireland
Independent.ie

Wednesday 18 October 2017

€1.16m bid fails to land Laois farm

Jim O'Brien

Jim O'Brien

A farm at Colt, Ballyroan on the outskirts of Portlaoise failed to sell at auction last week and is now under active negotiation. The farm was offered both in lots and as an entire. It was eventually withdrawn after being bid to €1.16m.

The 131ac farm between Abbelyeix and Portlaoise was once a dairy farm and comes with a 12-unit milking parlour, cubicle accommodation for 112 cattle and a range of sheds and cattle handling facilities.

The holding includes a two-storey farmhouse in need of renovation, while the land is a mix of elevated and low-lying grazing ground that has been well drained.

The land is in great heart, well minded and fertilised. The holding includes 7ac of forestry.

The auction itself was a protracted affair, with the lots being offered a number of times and a series of 61 bids made. The first lot offered by auctioneer Joseph Coogan was a 42ac parcel with frontage onto two roads. This opened at €300,000 and was bid to €500,000.

A second piece extending to 63ac that included the forestry, the old farmhouse and the yard also opened at €300,000 and was bid to €500,000.

Grazing

The third lot, a 26ac section of grazing ground fronting the Raheen road, opened at €100,000 and held at €150,000.

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Auctioneer Joe Coogan then sought bids in excess of €1.15m on the entire and with one bidder on the full farm he pitched those bidding on the lots against the one man bidding on the entire.

At the end of the day the offer for the entire was strongest at €1.16m but the farm was withdrawn. Negotiations are continuing and Mr Coogan is confident of concluding the sale.

 

Indo Farming

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