Farm Ireland
Independent.ie

Monday 29 May 2017

Bidder hits heights for mountain farm in Tipp

Jim O'Brien

Jim O'Brien

BIDDERS from as far away as Cavan and West Cork joined a great crowd of locals in Kilcoran Lodge Hotel at the foot of the Galty Mountains for the auction of a residential farm located at Burncourt, Cahir, Co Tipperary.

The property consists of 129ac suitable for grazing and plantation, with grazing rights to a nearby mountain.

It also includes an old-style slate and thatch farmhouse in need of refurbishment and a range of stone out-buildings all in a picturesque setting.

Auctioneer Noel Corcoran was astounded at the interest in the property and was delighted at the price paid and the pace of the sale.

"We had five strong bidders when I opened proceedings at €200,000," he said.

"Four bidders stayed with the pace to €320,000 and at that stage two customers remained until the property was sold to the last man standing for €340,000."

Refurbish

The property was bought by a customer from a neighbouring county who, according to Mr Corcoran, intends to refurbish the farmhouse and farmyard and reclaim the land.

"It had been expected that the land might be planted for forestry but locals are pleasantly surprised that the new owner intends to farm the holding."

Mr Corcoran remarked on the speed of the transaction and indeed on the pace of most current auction transactions.

"The contracts were signed and the deposit paid immediately after the sale. Nowadays the serious customers come to auction with all their financial arrangements in order; they have their deposit and have immediate access to the money they have agreed to pay. In the Celtic Tiger years people came to auction, bought a property and then went about getting the finance."

Irish Independent