Farm Ireland

Sunday 20 August 2017

Auctioneer left beaming as Kilkenny lots make €10k/ac

Jim O'Brien

Jim O'Brien

An average of €10,000/ac was paid for a 64ac non-residential holding located at The Rower, Co Kilkenny.

The property sold in five lots both during and after the auction at Thomastown last Thursday.

The lots varied in size from 2.28ac to 25.66ac.

The Rower is six miles from the village of Inistioge, off the R705 between New Ross and Graiguenamanagh.

Selling agent Ger Walsh, of Walter Walsh Auctioneers, based in Thomastown, described the land as the finest of grazing ground. It had been let for several years but was well maintained, watered and fenced.

There was a full auction room at The Salmon Pool Lounge, Thomastown, when lot one, a 9.56ac piece, opened at €50,000 and was withdrawn at that price.

It sold immediately after auction to the sole bidder, a local farmer, for a higher figure.

Lot two, a 2.28ac field at Lower Raheenduff, opened at €12,000 and was withdrawn, but sold after auction to the only bidder, again a local farmer.

The third lot, 25.66ac, opened at €150,000 and went on the market at €240,000. It was sold under the hammer to a local farmer.

Lot four was a 19.70ac parcel at Lower Raheenduff, made up of three fields all with road frontage. There was keen interest in this section when it opened at €100,000. Three bidders drove the price forward and, after it passed the €180,000 mark, there were two left until it was eventually bought under the hammer for €210,000. The purchaser was a solicitor acting for a client.

Finally, a 6.94ac section of the property opened at €50,000 and sold at €80,000 to a local farmer.

According to Mr Walsh, the total from the sale came to around €640,000 (€10,000/ac).

Jim O'Brien

Indo Farming