€12k/ac paid for land worth €30k/ac in 2008
A local dairy farmer paid more than €12,100/ac for 38ac of land near Arklow when it sold at auction last week. While this price can be regarded as strong in the current market, auctioneer David Quinn recalled selling 16ac from the same farm in 2008 and he got €30,000/ac for it. Located between Arklow and Coolgraney, the land is described as good grassland laid out in five fields. There are six acres of softer ground. Bidding opened at €300,000, it went on the market at €400,000 and sold for €460,000.
uA parcel of 16ac with entitlements at Glack, Ballivor, Co Meath was withdrawn from auction last week after bidding reached €105,000. The lands, located three miles from Ballivor and eight miles from Trim, are all in grass and laid out in a single division watered by a stream. A crowd attended but the bidding was dominated by two local farmers.
According to Niall Mulligan, of Sherry FitzGerald Royal, negotiations are ongoing.
uA farm of land extending to 35ac and located near the village of Pallaskenry, 12 miles west of Limerick City, was withdrawn from auction at the offices of Lee Auctioneers, Newport, Co Tipperary. The lands are described as top quality ground with extensive road frontage and all in grass. There was a small attendance at the auction and the property was withdrawn after one bid of €150,000. This equated to less than €4,300/ac, some distance short of the €8,000/ac guide.