'Boom time' sellers return for 286ac outside Kilkenny
Published 12/07/2011 | 05:00
A farming family, who sold land with development potential on the outskirts of Kilkenny city at the height of the boom, were believed to have returned to market with a bang when they paid €2.45m for a 286ac residential farm at Clara, Co Kilkenny.
More than 300 people turned out for the sale of Kilmogar House, but the majority were confined to the role of observers as the auction trundled slowly from the opening offers to the eventual sale price.
George Candler, of Kilkenny Mart Property Sales, had five bidders when the farm, which is around six miles from Kilkenny city, was initially offered in two lots.
The bidders included a West Cork farmer, a Tipperary man, a solicitor from Rathdowney, Co Laois, local auctioneer Pat Gannon who was understood to have been acting for a group of local farmers, and the eventual buyer.
This was Kilkenny solicitor Seamus Brennan, who was acting in trust for an unknown client. However, if the rumour mill in the Marble City is to be believed then the buyers were a Kilkenny farming family who made a killing from a land sale during the property bubble.
Having guided the property at a top of €2.6m, Mr Candler was satisfied with the sale price, which equated to €8,560/ac.
The land includes 135ac which are currently in crops. However, Mr Candler said that up to 200ac had arable potential. The remaining 86ac is all in grass and in need of "tidying up".
The six-bedroom residence is in need of renovation.