Hectic bidding drives south Tipperary farm to €20,000/ac
Six parties fought it out for a 75ac block of land near Cashel which sold for double the guide price.
A 75ac farm at Thurlesbeg, Cashel, in South Tipperary made a huge price at auction last week, making €1.56m or €20,800/ac under the gavel of Alison De Vere Hunt of Cashel Marts. The residential property almost doubled its guide price of €850,000.
Located just 2km from Cashel, the farm comes with plenty of road frontage, which undoubtedly sparked the interest of the non-farming property buyers.
The holding is in two lots; 25ac of land and a 50ac parcel with the residence. The 25ac parcel is in tillage and is described as the best of tillage ground coming with 450m of road frontage on to the old N8 or Dublin road, which gives it real ‘hope’ value.
The 50ac is in grass with some tillage and this is located at both sides of a cul de sac that leads to the house and yard. This parcel has a 3ac piece of ground fronting a small local river and can be prone to flooding, although in this year’s drought conditions, it has proved to be a great piece of grazing ground.
Overall, the holding has been rented for a number of years and could possibly do with the kind of attention only an owner can give.
The house is a traditional, single storey farmhouse with dormers added. The accommodation includes a sitting room, kitchen, bathroom and three bedrooms. One of the bedrooms is located downstairs and has an adjacent bathroom. The place is in need of complete refurbishment and there are a number of traditional outbuildings adjacent to the house.
At auction, a total of six individual bidders took to the field, two on each of the lots and two on the entire.
Bids on the lots saw two bidders in action when the 25ac plot opened at €200,000 and this eventually climbed to €355,000.
The 50ac portion opened at €450,000 and climbed to €645,000 driven by two bidders. The entire had opened at €800,000 and after the lots were bid to a total of €995,000, bidding on the entire resumed at €1m and eventually climbed to €1.56m driven by two bidders.
Alison De Vere Hunt described it as a great sale and a great price for the ground.
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