Farm Ireland
Independent.ie

Tuesday 11 December 2018

Auction action starts to wind down after summer sales surge

Estate agents have been experiencing mixed fortunes in the sales rooms, writes Jim O'Brien

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Jim O'Brien

Jim O'Brien

As the year draws in there are mixed results in the auction rooms. From the north midlands to the Golden Vale, the gavel is falling but not as frequently or as swiftly as it did earlier in the year.

Mullingar auctioneer James L Murtagh sold a 20ac farm near Mullingar after auction last week and while Padraic Murtagh was not forthcoming about the price made, it is believed it sold for a figure close to the guide of €140,000.

The holding at Cullionmore, 4km from Mullingar, overlooks Lough Owel and is accessed from the road by a wide passageway with cattle handling facilities. The place is all in one field made up of mainly high ground with a natural pond close to the boundary furthest from the road.

At auction the property opened at €80,000 and two bidders drove the price to €118,000, where it was withdrawn. It sold after auction to a solictor believed to be acting for a local buyer.

The same auctioneer was not as fortunate with a 132ac residential holding at Griffinstown on the outskirts of Kinnegad. The grazing farm is made up of top-class grazing ground, a yard with a wide range of dated but useful buildings and a substantial two-storey, four-bedroom farmhouse.

Located between the old N4 and the Kinnegad to Killucan road, there is plenty of road frontage on to the two roads.

The holding was withdrawn from auction somewhat shy of its €1m guide. Active negotiations are under way.

Mr Murtagh had a similar experience with a 41ac farm at Glackstown, not far from Delvin. Made up of 31.6ac of top-class grazing ground and 9.4ac forestry with €1,700 in annual premiums, the holding was withdrawn from auction and is under active negotiation.

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Tipperary auctions

Even in Tipperary the auction action isn't purring as confidently as it once did.

Alison De Vere Hunt of Cashel Mart had a mixed day out last week when just one out of three sales went through under the hammer.

A 13ac parcel at Hughes Lot on the outskirts of Cashel that is part-zoned for development was guided at €13,000/ac. It opened at €130,000 and with two bidders in the chase, it came to a halt at €165,000 where it was withdrawn. Private negotiations are under way.

A similar fate befell an elevated 13ac parcel of ground at Templenoe, 5.5km from Cashel and 15km from Cahir. The place has great views and 320m of frontage on to two roads but was withdrawn from auction.

After opening at €130,000 it attracted two bidders but held at €180,000. Negotiations are on-going.

Alison was pleased to see one property get away on the day. A 22.5ac parcel at Garranlea, New Inn laid out in two fields of high-class grazing ground made it over the line. The place opened at €200,000, and with three bidders showing cause it went on the market at €290,000 and sold at €293,000 to a solicitor acting in trust.

Carlow grazing

Moving south and east to Coolnakeeran at Old Leighlin in Co Carlow, John Dawson of REA Dawson sold just over 58ac of grazing ground under the hammer last week for €780,000 or over €13,300/ac.

The farm is described by Matthew Conry of Dawsons as a nice block of land laid out in two fields with good road frontage and plenty of access.

At auction it opened at €600,000 and with two bidders in the chase, the hammer fell at €780,000.

Laois Letting

On the letting front, Castlecomer auctioneer Joseph Coogan recently let a parcel of 60ac of grazing at Cole, Kilbricken, Mountrath in Co Laois for €300/ac on a five-year lease.

The property laid out in manageable fields attracted two customers when it opened at €200/ac and it was leased to a local farmer for €300/ac.

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