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Thursday 19 July 2018

Tipperary farm sells for €23,000/ac as auction season gets into full swing

Beechmount farm
Beechmount farm
This 19th-century residence on 89ac at Johnstown in Westmeath was bought by a local dairy farmer for €715,000
An 11ac parcel of ground located near Kells was guided at €200,000 and sold for €350,000

JIM O'BRIEN

A 91.6ac Tipperary tillage farm with extensive road frontage on the outskirts of Cahir made a headline price at auction last week. It sold under the hammer for €2.125m making over €23,000/ac.

The property located at Beechmount on the Clonmel Road is currently under tillage and comes with 1km of road frontage, which may give it some development potential.

The farm is suitable for any farming purpose and is close to an electricity substation, giving it great potential for solar, according to joint agent Ms Alison De Vere Hunt of Cashel Marts.

On the day of the sale, there were three customers for the property when it opened at €1m after joint auctioneer John FitzGerald of Dougan FitzGerald accepted the substantial amount as an opening bid.

An 11ac parcel of ground located near Kells was guided at €200,000 and sold for €350,000
An 11ac parcel of ground located near Kells was guided at €200,000 and sold for €350,000

In increments of €50,000 the price quickly climbed to €1.75m, at which point the auctioneers took a recess to consult with the vendors.

Mr FitzGerald and Ms De Vere Hunt we instructed to put the property on the market forthwith and returned to the room.

A further €370,000 was added in a round of bidding that concluded when the hammer fell at €2.125m.

The property was bought by a solicitor acting in trust.

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Meath tillage deal

Stephen Barry of Raymond Potterton auctioneers had a good day in the auction rooms when he sold a 55ac tillage farm at Grangemore, Raharney, on the Meath border and off the Ballivor/Mullingar Road. The property made €402,000 under the hammer.

Described as a superb tillage farm in two divisions of winter cereals, it is well drained level ground fronting an old road.

At auction it opened at €300,000 and with two bidders in action, the price rose in increments of €5,000 until it went on the market at €402,000 and sold to a farmer acting as an agent for another.

At a more recent auction Mr Barry sold a small parcel of ground extending to 11ac at Townspark, just outside Kells.

Divided by the M3 Motorway, it was guided pre-auction at €200,000 and sold for €350,000 on the day.

A 0.7ac section located at the Kells side of the motorway includes an old farmhouse and a range of out-offices adjoining a 7.6ac of grazing laid out in three fields. At the far side of the motorway is a 2.8ac portion of grass in two fields divided by natural hedgerow.

The property opened on auction day at €150,000 and, in bids of €5,000, climbed to €210,000 when a recess was called.

Returning to the auction room, the place was put on the market at €215,000.

Bidding continued unabated until the hammer fell at €350,000. The holding was bought in trust.

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