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Keen bidding for Tipperary holding

TOM CROSSE of GVM need not dust down his CV just yet. Having threatened a few weeks ago to "throw his hat at it" if a 60-acre farm located at Graffan, Annacarty, six miles west of Tipperary town, didn't sell, he can now rest easy in his office chair.

The farm sold at auction last week for €545,000 --just over €9,000/ac -- to surpass its guide price by €20,000.

The major part of the land, 55ac, is described as excellent farmland, with the remaining five acres in ponds.

All in grass, the farm is laid out in five fields with the divisions well fenced and serviced by piped water throughout.

While there are no buildings on the holding, there is reasonable road frontage.

The farm is also home to considerable sand and gravel deposits, which could be valuable in the event of a revival in the fortunes of the building industry.

The bidding opened at €400,000 and three bidders, all local farmers, were active as the price went up in tranches of €10,000 and €5,000.

At €505,000 the property went on the market and bidding continued in increments of €5,000s, €2,000 and €1,000 until it was knocked down at €545,000.

Two local farmers, one in dairying and the other in dry stock, bid jointly and bought the farm. Mr Crosse says they were given a "good run for their money" by other strong farmers from neighbouring parishes.

Mr Crosse and joint selling agents Donovan Auctioneers were delighted with the sale.

The same land changed hands in 2006 when it made €12,000/ac. The price paid last week represents a 17pc price decrease in six years.

Indo Farming