Tuesday 27 September 2016

Kilkenny land goes for €12,000/ac

Jim O'Brien

Published 25/05/2016 | 02:30

There are few spectacular prices being paid but land is changing hands at a reasonably steady pace throughout the country.

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Last week a 138ac farm at Hugginstown, Co Kilkenny sold in lots and made in excess of €1 million under the hammer of David Shee of Shee & Hawe Associates.

The property, which comprises 80ac of grassland, 24ac of forestry planting lands and 33ac of marginal lands was sold in four lots to four buyers.

A parcel of 40ac of grassland with a derelict residence made €480,000 or over €12,000/ac, while a further 40ac of non- residential grasslands fetched €445,000, or €11,000/ac. A lot comprised of 24ac of planting lands fetched €70,000 and the 33ac of marginal lands were sold for €50,000.

"We needed to offer the lands in different ways to give interested parties options. This took a bit of time, but then it became apparent the best way to proceed was with four lots and after that bidding was brisk on each lot," said Mr Shee.

Meath and Westmeath

Meanwhile, Raymond Potterton had mixed fortunes when he brought a number of properties to auction last week.

A large 172ac farm at Ballynameagh, Coole, Co Westmeath described by Stephen Barry of Potterton's as a highly fertile farm under permanent pasture was withdrawn having been bid to €1m, or €100,000 less than its guide.

At auction the property opened at €800,000 and with two bidders in the chase it stalled at €1m and was withdrawn. It is currently under negotiation.

Mr Potterton had better luck with a 46ac parcel at Stonefield, Carnaross that sold under the hammer for €380,000.

The place is described as a good, high farm laid out in eight divisions with frontage on to a cul-de-sac.

At auction proceedings opened at €200,000 and with two customers in the chase the price rose to €300,000 when the property was put on the market. It sold to a local farmer for €380,000. Earlier in the month Mr Potterton sold a 20.8ac farm at nearby Woodpole for €210,000 beating its guide price by €30,000.

Located less than 1km from Carnaross the farm is 5km from Kells just off the M3 Motorway. Divided originally by the M3 it is now located on a quiet secondary road, a cul-de-sac since the development of the M3. The pastureland is in eight fields with extensive road frontage.

Indo Farming

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