Farm Ireland

Wednesday 22 November 2017

Laois farm close to motorway sells for €14,700/ac at auction

Jim O'Brien

Jim O'Brien

A 44ac farm with a derelict house at Ballybrittas in Co Laois sold as an entire at auction last week for €650,000, making over €14,700/ac

The property is located just off the old N7 between Monasterevin and Portlaoise about 2.5km from Ballybrittas and 6.5km from the M7 Motorway.

A 37.5ac portion is in tillage with 6ac in forestry. This is laid out in four divisions of tillage ground, while the forestry is situated along the road frontage. The derelict cottage on 0.7ac is in need of complete renovation.

Before an attendance of around 20 people auctioneer Paddy Jordan offered the property in three lots. The first lot comprised of the tillage and forestry attracted one bid of €300,000. The second lot comprising the cottage opened at €50,000 but bidding stopped at €66,000.

The entire was then offered and an opening bid of €370,000 outstripped the amount already on offer. The price continued to rise in increments of €10,000 to €560,000. Bidding continued until the hammer dropped at €650,000. The purchaser is believed to have been a farmer with equine interests.

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