Donegal land made a record price last week when a 10ac plot at Gulladoo outside Moville sold for €360,000 or €36,000/ac. This is the highest per-acre price paid for land in the country this year — the closest is €20,000/ac paid for farms in Kildare and Wexford.
The online auction conducted on the Offr platform and overseen by Buncrana auctioneer Dara Furey of Sean Furey Insurances involved the disposal of 122ac, mostly located in six dispersed parcels at Linsfort near Buncrana. A seventh was located on the shores of Lough Foyle at Moville.
The accumulated amount generated at auction came to €1.53m or €12,560/ac, with bidders from the locality and all over the world participating.
A 28.75ac lot at Linsfort was bought by a man working in the US who wished to buy land ‘at home’. He paid €282,000 or €9,800/ac for the parcel.
The property belonged to the late Dan O’Donnell of Tonduff, Linsfort. Known locally as ‘Big Texas’ he spent his working life in the UK tunnelling.
Aside from a parcel with forestry, all the lots made multiples of their guide prices. A 10ac parcel at Muineagh, Linsfort with a derelict cottage and outhouses left the rest in the shade when it was bought by a local man for €360,000 or €36,000/ac.
“Since I started working here with my father I have never seen anything like it,” said Dara Furey. “Land in Inishowen generally makes good money, between €8,000 and €12,000/ac. A very limited supply comes on the market here and you find local people like to bid for it when it comes along.
“A lot of locals from Inishowen went to England working in the tunnels in their late teens and by the time they were 40 they had accumulated a good lot of money. These are the kind of people who buy this land.”
Throughout the country land has been making very strong prices even in the face of the recession caused by Covid. In recent weeks David Quinn of Quinn Property sold an 88ac residential farm at Coolnahorna, Wexford that made €20,080/ac.
Near Athy in Co Kildare Jordan auctioneers sold a 76ac farm all in stubble and with no buildings for €20,000/ac. In Kilkenny Pat Gannon sold an 86ac non-residential farm for €16,000/ac.
There will be great interest in the price to be made by a 160ac farm at Kilross, Co Tipperary when the window of opportunity to register offers closes at Cashel Mart tomorrow at 5pm.