Auction sales starting to pick up as prices top €17,000/ac

Hammer time: The 95ac roadside farm in Cork
Hammer time: The 95ac roadside farm in Cork
The 72ac holding in Muff in Cavan both did well at auction
Jim O'Brien

Jim O'Brien

While August is traditionally quiet, it has been a busy month in the auction rooms for some auctioneers, including Meath-based Raymond Potterton.

His sales included an 84ac non-residential farm at Pelletstown near Trim. The property was originally developed by the late Dr Roger McCarrick, the well-known scientist, beef processor and farmer who started the renowned Pelletstown Pedigree Limousin herd.

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The land is in two sections, with 62ac in tillage and 22ac in permanent pasture. The holding is home to an amazing array of modern sheds with top class accommodation for up to 300 cattle.

At auction, Mr Potterton opened the bidding at €850,000 and with three bidders in contention, the prices rose in increments of €10,000 and was sold at €1.07m or €12,700/ac to a Meath tillage farming family.

The 72ac holding in Muff in Cavan both did well at auction
The 72ac holding in Muff in Cavan both did well at auction

Residential holding

On the same day and at the same auction, Mr Potterton sold a 41ac residential farm at Mullaghfin, Balrath.

The property is made up of tillage and grass in equal measure, with a three-bedroom Land Commission cottage as the residence.

The holding was offered as an entire and in lots with all the attention focussed on the latter.

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At auction, the house on 0.7ac opened at €150,000 and after attracting the attention of four bidders, went on the market at €210,000 and sold to a local family for €220,000.

The land extending to c40ac opened at €350,000 and with three bidders in action, it climbed to €400,000 in €10,000 bids and on to €540,000 in increments of €5,000.

The property was put on the market at €540,000, but bidding continued and the hammer fell at €610,000 when the place was bought by a local farmer for €15,250/ac.

Navan dairy farm

Last week, Potterton auction rooms saw the sale of three properties which included a compact 80ac residential dairy farm at Chamberlainstown, Fordstown, about 17km from Navan. The farm with 80 milking cows is set on 80ac of top-class grazing ground and includes a two-bedroom traditional cottage.

The property opened at €700,000 and, in bids of €10,000, climbed to €900,000, at which point the hammer fell and the farm was bought in trust at €11,500/ac.

Cavan auction

Mr Potterton also had a successful result from the sale of a 72ac residential holding at Muff, Kingscourt in Cavan.

The holding is centred around a traditional two-storey, four-bedroom farmhouse in habitable condition.

The land, overlooking Muff Lake, is the best of ground, elevated and well cared for. It is serviced by a roadway.

At auction, the bidding opened at €450,000 and, in bids of €5,000, it climbed steadily until it sold under the hammer to a local farmer for €470,000 or over €6,500/ac.

Cork farm auction

Moving south, a 95ac roadside farm with a range of outbuildings at Bridgeland on the outskirts of Rathcormac village sold at auction, making €1.65m or over €17,300/ac.

All in one block, the 95ac are laid out in eight fields of pasture serviced by an internal roadway and bounded by the main road, the Glenville Road and by two rivers, the Bride and the Cottage. A yard on the holding was built just five years ago.

At auction, the farm was jointly handled by GVM Kilmallock and Dick Barry & Sons Fermoy, with Michael Barry wielding the gavel.

The property opened at €1m and with three bidders in contention, they drove the price to €1.65m, where it went on the market and was sold at that to a solicitor believed to be acting in trust for a Fermoy buyer.

Coolmore stud were believed to be the underbidders.

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