Wednesday 28 September 2016

Lightning sales and some tangled dealing

Jim O'Brien

Published 05/08/2015 | 02:30

This time of the year can be quiet in the auction rooms but in the last week or two there has been a flurry of activity in the Leinster region with some smaller parcels selling for good prices.

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A 24ac property in two grass fields at Kilrush, Freshford , Co Kilkenny sold 'like lightning' under the hammer of Joseph Coogan for €305,000 making a handsome €12,708/ac.

"It went so fast I hadn't time to catch my breath," said Mr Coogan. "It was like selling a Charolais bullock."

The land is located a kilometre off the main Freshford to Johnstown Road, almost 5km from Freshford and over 9km from Urlingford.

All in grass the land has no buildings but has good frontage on to a by-road.

The auction kicked off with a strong bid of €200,000.

Two local farmers with eyes for the property drove the sale in bids of €10,000 and it was on the market in a matter of seconds having reached €270,000.

The brisk bidding continued until the hammer fell at €305,000.

Athy auction

Moving to another Kilrush, this time near Athy in Co Kildare, auctioneer Paddy Jordan recently handled the executor sale of a 55ac residential farm netting €760,000.

The property sold in two lots with the house on 0.5ac making €70,000 while the land made €690,000 or €12,500/ac.

The holding is situated on the N78 Kilcullen/Athy Road, about 6km from both Athy and Kilcullen. Laid out in seven good-sized divisions with frontage on to the N78 the lands are all in permanent pasture while the farmyard consists of two haysheds and two silage pits.

The farmhouse is described as a charming two-storey dwelling in need of complete refurbishment. The accommodation includes three bedrooms, a bathroom, a sitting room and a kitchen.

At auction the house on 0.5ac attracted two bidders. It opened at €60,000 and sold to a local buyer for €70,000. The 54.5ac was the big draw and six bidders showed interest when it opened at €300,000 and bidding continued to €560,000. After a recess for consultation Mr Jordan returned to the auction room and proceeded with the sale.

Although he had plenty of bidders the pace was of the transaction was funereal.

When the amount on offer eventually reached €600,000 the property was put on the market and after a long process and much cajoling the hammer finally fell at €690,000 when the place was bought by a local farmer.

Auction stand-off

Another auction held by Mr Jordan transmogrified into an old fashioned tangle after the property was withdrawn.

The parcel in question is a 21ac piece at Tankardstown situated between Athy and Carlow town.

All in pasture the land is described as good grazing ground except for a piece in the middle that, unlike those of us of a certain vintage, has no problem holding water.

The parcel attracted no bid when the auction opened and it was clear no further public bid was forthcoming.

It was also clear there was interest in the room but no one was prepared to appear too eager in the public arena.

When Mr Jordan withdrew the property, a cat and mouse game of traditional tangling ensued, involving walk-outs, turnarounds and much hard bargaining - all conducted in the colourful vernacular that is the lingua franca of rural business dealing.

Mr Jordan was in his element as the drama unfolded and after hours of over-and-back the 21ac were eventually bought by a pair of brothers who paid a figure close to the guide of €150,000.

Kilkenny auction

Returning to Kilkenny and Joe Coogan the Castlecomer auctioneer recently handled the sale of a 7ac field at Ballyfoyle, Co Kilkenny that sold under the hammer for €44,000 or €6,300/ac.

The parcel of pasture is located over 9km from Castlecomer has road frontage on to two roads.

Three bidders showed interest when the sale opened at €30,000 and the hammer fell at €44,000 to a man from the general area.

Indo Farming

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