'Biggest crowd in 20 years' helps secure record letting prices at Kilkenny auction
Published 01/03/2011 | 05:00
A top price of €425/ac was paid for the letting of 48ac of tillage ground in Laois recently. It was one of a number of strong prices paid for lettings at a crowded sale conducted by auctioneer Joseph Coogan at Castlecomer, Co Kilkenny.
"I knew that there was huge interest in the letting land on offer but when I saw the size of the attendance I knew how keen the interest was. It was the biggest crowd I had in 20 years of auctioneering," Mr Coogan claimed.
The land, located at Cullohill, is fine tillage land divided by an internal roadway. The auction opened at €100/ac and went up in bids of €20. Up to 15 bidders took to the field but fell away when the bidding continued past €300/ac.
After it reached €350/ac the auction became a two-horse race until the final bid was made by a first-time bidder who clinched the deal in dramatic fashion.
It is believed the new tenant will use the land for crops of cereals and carrots.
Mr Coogan said he was amazed at the price.
"This is unreal money for letting. I was expecting to get in the region of €250 to €300/ac but not €425."