Farm Ireland
Independent.ie

Sunday 28 May 2017

'Biggest crowd in 20 years' helps secure record letting prices at Kilkenny auction

Jim O'Brien

Jim O'Brien

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.

Tenant

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."

The land at Cullohill wasn't the only surprise of the night. A 57ac block in permanent pasture but suitable for grazing or tillage at Stopford, Johnstown, Co Kilkenny was next under the hammer. It opened at €100/ac with four keen customers entering the field. To everyone's surprise, bidding continued until the lot was eventually knocked down at €360/ac.

Matters proceeded apace when 11ac of stubble at Srahbaun, Rathdowney, Co Laois was knocked down at €300/ac.

Things returned to more normal levels when 20ac of stubble at Bawn, Johnstown, Co Kilkenny was let for €205/ac. This was followed by 37ac of grazing at Rossdarragh, Rathdowney which went for €160/ac.

According to Mr Coogan there is a huge hunger out there for letting land and he is getting up to five enquiries a day for good quality ground.

"All the prices paid at the auction were excellent," he said.

"There were no entitlements with any of them which makes the prices even more surprising."

Indo Farming