Farm Ireland
Independent.ie

Tuesday 26 September 2017

Biggest sale was ?3m Grangemore

SOUTH LEINSTER

Jim O'Brien

Jim O'Brien

The most expensive land in Ireland is to be found in South Leinster where the average price paid was €13,486/ac.

Of the 158 auctions covered in the survey, 56 took place in this region accounting for the sale of a total of 2,403ac of land that made €32,408,500.

The biggest sale of the year in this region happened in December when Grangemore Stud, home of the renowned breeder, the late John Colleran, was sold by Jordan Auctioneers of Newbridge, Co Kildare, for €3m. The property exceeded its guide by €1m and netted €30,000/ac. A field of stubble extending to 121ac at Stradbally, Co Laois, was next with a sale price of €2.165m, which equated to €18,000/ac. Five other farms in the region breached €1m .

The highest per-acre price in the country was paid for ground in South Leinster when €36,600 was paid for a 20ac stud farm sold by Coonans at Castlewarden, Kildare. The lowest price paid in the region was €7,000/ac for lands at Ballyknock in Wexford and Lullymore, Rathangan, Co Kildare.

Thirteen properties achieved between €7,000 and €10,000/ac, while 26 properties made between €10,000 and €15,000/ac. Thirteen holdings sold for between €15,000 and €20,000/ac, while two farms made more than €20,000/ac, another €30,000/ac and one made more than €35,000/ac.

Auctioneers are confident land prices will remain strong through 2014. The abolition of milk quotas will continue to drive demand from the dairy sector, with overall milk production in the region forecast to increase by more than 60pc over the next five years. Similarly, tillage farmers and equestrian interests have been hunting land.

Cash

Estate agents Phillip Byrne of Coonans, Maynooth, and Paddy Jordan have a range of clients looking for both tillage and stud farms in the region of between 100 and 300ac.

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Both auctioneers acknowledge that there appears to be substantial quantities of cash around for land purchase on the part of domestic and foreign buyers.

"Earlier in the year we sold the derelict Liffey View Stud in Wicklow to an Irishman living in Qatar who intends to invest significant funds in its refurbishment," explained Mr Byrne.

Irish Independent



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