Farm Ireland

Saturday 20 January 2018

51ac property sells for €675k

Jim O'Brien

Jim O'Brien

More than €13,000/ac was paid at auction recently for 51ac of land in the shadow of the Rock of Cashel.

The property is located on the edge of the town and was described by Paddy Jordan of Jordan auctioneers as top-quality ground with a southern aspect beside the famous Rock.

While the land is reputed locally for its fattening qualities, it brings little potential in terms of development given its proximity to the famous heritage site, which is designated as a special amenity area.

Nevertheless, the property made €675,000 under the hammer. Before an attendance of 50 people, auctioneer Rob Vere Hunt of joint agents Cashel Livestock and Property Sales opened proceedings seeking bids in excess of €400,000.

Four bidders showed interest and the price increased in tranches of €10,000 until it reached €600,000 when the property was put on the market.

Bidding continued in increments of €5,000 with two bidders remaining until the hammer came down at €675,000.

The buyer was a local farmer, as were all the bidders on the day.

Meanwhile, Co Clare land at Ballycullinin, Dysart, near Corofin, sold under the hammer at €209,000 this week.

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