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Monday 21 May 2018

Packed auction sees tillage land sell for close to €20,000 per acre

An 86ac Tipperary holding with the Galtee mountains to one side and the Comeraghs to the other, sold for €570,000 at auction
An 86ac Tipperary holding with the Galtee mountains to one side and the Comeraghs to the other, sold for €570,000 at auction
Jim O'Brien

Jim O'Brien

Eamon O'Brien of CCM Property Network Mitchelstown had a good day in the auction room recently when he sold a 17ac parcel of ground at Ballytrasna, Conna making over €19,400/ac.

The maize field is located 5km from the East Cork village of Conna in what Mr O'Brien describes as a golden triangle of farmland between Conna, Fermoy and Castlelyons.

The ground has been rented on conacre for a number of years and cultivated for maize in that time.

On the day a crowd of 24 people turned up for the auction.

"I was surprised at the crowd," said the auctioneer. "It was a dirty wet day and the first day of Cheltenham."

The punters in the room were interested in putting their money into something more reliable than a nag galloping around a track in the Cotswolds.

Bidding opened at €170,000 when a local solicitor raised a finger. Three further bidders joined the contest and the price increased in increments of €10,000.

At €260,000 the auctioneer consulted with the vendor and the property went on the market.

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As the contest went on two bidders dropped out and the two remaining slugged it out with bids of €5,000 until the hammer fell at €330,000 and the place was bought by a local farmer who intends to put the property to equestrian use.

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