Farm Ireland

Monday 23 October 2017

103ac Grangemore Stud sets 2013 record after selling for €3m at auction

Permanent TSB says it will not give mortgage writedowns
Permanent TSB says it will not give mortgage writedowns
Jim O'Brien

Jim O'Brien

The highest price paid for farmland this year was achieved when Grangemore Stud, a 103ac residential stud farm on the edge of the Curragh of Kildare, sold under the hammer last week for €3m or €30,000/ac.

Described as one of the finest bloodstock properties to come on the market in recent times, the place was the home of renowned breeder, the late John Colleran.

Auctioneer Paddy Jordan described Grangemore as one of the best farms in Kildare, with a breeding pedigree that includes top-class horses such as Scorpion, Zipping, Gayle Gal, Memories, Galmoy, Garuda, Dance Beat and Danish Rhapsody.

Located 5km from Newbridge, the property includes a modest but well finished bungalow extensively refurbished in 1997 and in excellent condition throughout.

The yard consists of 26 boxes in a square sheltered formation and a range of equestrian and support facilities including tack and feed rooms, a loft with canteen and an extensive grain loft.

Among other yard facilities are stocks, a dung stead and two seven-span hay sheds.


The land extending to 103ac is laid out in 13 divisions all of which are fenced with post and rail fencing.

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An internal roadway through the farm services all paddocks while the land has extensive road frontage and superb mature trees and shelter.

Before a packed auction room, the property opened with an initial bid of €1,000,000 before increasing in bids of €100,000 and €50,000 respectively.

The auction achieved a steady momentum and auctioneer Paddy Jordan was intent on maintaining the momentum.

He never left the room and after declaring the property on the market at €2.2m he kept up the pressure and after a number of final bids the hammer dropped at €3,000,000.

The purchaser was a solicitor acting in trust for an undisclosed client.

Irish Independent

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