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Sunday 11 December 2016

Co Clare holding averages €10,000 per acre

Published 15/06/2010 | 05:00

PRICES averaging €10,000/ac were achieved last week at the auction of a 102ac residential holding at Gurtnagee, Killaloe, Co Clare.

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The sale got off to a nervous start when the first of five lots, 26ac, opened at €240,000 and slowly climbed to €265,000, at which point John Phelan of Henry Brann Auctioneers took instruction. Back on the market, the lot failed to pass €265,000 and was withdrawn. Negotiations are on-going and, with a reserve of €270,000, a conclusion is expected.

Lot two comprised a house on 7.86ac along with outbuildings made up of a slatted unit, old stone buildings, a silage pit and a milking parlour. The house was described as needing total modernisation. Bidding opened at €280,000 with two bidders slugging it out, and it sold for €300,000 to a Limerick buyer.

Overtaken

A single field of 5.25ac made up lot three and it opened at €35,000. Two bidders followed it to €50,000. They were joined by a third at €51,000 and all three were overtaken by a new bidder who bought the lot with one bid of €53,000.

Lot four consisted of 13.5ac in two portions. Three bidders entered the fray and it was eventually sold for €130,000.

The final lot, 49.45ac under forestry, made for an interesting sale. The forestry has 13 remaining premiums at €8,782 a year, which will realise a total of €114,166.

The bidding opened at €120,000 and as two bidders chased it, the auctioneer took instruction at €165,000. Bidding continued until it was sold to a Co Meath buyer for €194,000.

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