Farm Ireland

Monday 26 February 2018

Full-farm offer draws the bids

Despite a distinct lack of interest from bidders when it was offered in two lots, a 50ac Tipperary farm attracted a flurry of bids when it was offered as one unit.

Located at Foilduff, Toor, close to Newport in Co Tipperary, the farm was divided into two lots; a 20ac block with a derelict residence and a further 30ac section.

The land was described by local auctioneer James Lee as "average" and surrounded by forestry land.

Bidding for the entire farm opened at €80,000 and reached €140,000, in bids of €10,000 from three interested parties.

The property was then offered in two lots, but bidding on the residential portion only reached €50,000 and there were no offers for the other 30ac.

When the entire was offered again, it reached €150,000. A flurry of bids saw it reach €204,000, when it was knocked down to an adjoining farmer.

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Irish Independent