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