Farm Ireland
Independent.ie

Thursday 8 December 2016

Land sales bonanza in Galway as confidence bounces back

Jim O'Brien

Published 15/04/2015 | 02:30

Tuam auctioneer Martin Tyrell has had a good spring in the salesroom selling over €1.5m worth of farmland in the Galway region.

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Farm sales concluded so far this year include a 96ac farm near Lackagh, Turloughmore that sold for a price in the region of €740,000 or over €7,700/ac.

The farm is all in grass and located in an active and progressive farming area.

Not far away at Cloonbar in Kilconly, Mr Tyrell handled the sale of a 44ac farm of mixed quality lands with an old residence that sold for €170,000 or more than €3,800/ac.

A 38ac farm at Ballyroe, Kilconly, also with an old residence, made €260,000 or over €6,800/ac when it was bought by a local landowner.

Moving east, 40ac of forestry lands at Gortnalun, Attymon made €160,000 or €4,000/ac.

One of the better prices achieved was netted for an 8ac parcel near Corrandulla that sold for €81,000 or over €10,000/ac.

In all, the indefatigable Mr Tyrell has disposed of over €1.5m worth of ground in the last few months.

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"Improving confidence in the economy and the elimination of the milk quotas are important factors in the above sales," he said.

"However, quality and location are prime factors in order to achieve top market prices."

He added that he has a steady demand for good quality farmland, both grazing and forestry land.

Limerick auction

Further south in Co Limerick, €13,750/ac was paid at auction for a 16ac farm at Rockhill, Bruree.

Described by Richard Ryan of GVM Kilmallock as "excellent quality Golden Vale grazing lands - as good as you will find in County Limerick", the property made a very strong price.

In a full auction house an opening bid of €150,000 saw proceedings open and with three bidders in the game the initial bid was followed by ten more offers of €5,000 bringing the price to €200,000.

At this stage a recess was called and on returning Mr Ryan declared the property on the market.

His gavel fell some time later at €220,000 when the property sold to a local dairy farmer.

The two under-bidders are also farmers within the area.

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