Farm Ireland

Saturday 16 December 2017

Macroom farm fetches €4,500/ac and Tramore coastal land sells after auction

Jim O'Brien

Jim O'Brien

Macroom auctioneer Killian Lynch sold a 112ac farm at Ummera, Macroom for €505,000 making €4,500/ac in an auction held before the Christmas.

Located 1.6km from Macroom and almost 10km from Coachford the farm is in a long narrow formation with more elevated portions in the middle.

At the highest point there is some 20ac of forestry that provides an annual income of about €3,500 and has about seven years left to run. The rest of the land is described as high grazing ground.

There is no road frontage with the farm that is accessed by a private access passage and there are few buildings of note aside from a derelict cottage and out-buildings all in need of attention.

At auction three bidders showed their hands when proceedings opened and the auctioneer accepted an opening bid of €300,000.

Bidding continued apace and when it reached €475,000 the property was put on the market having almost reached its guide price of €480,000.

It passed its guide and went on to garner €505,000 before the hammer fell in favour of a solicitor believed to have been representing a local farmer.

Tramore land

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An unusual property that came to auction towards the end of last year was 183ac of seaside land at Lisselan, near Tramore in Co Waterford.

The holding was in the process of being developed as the major racecourse in Tramore but the expected grant aid didn't materialise and the owners decided to put it on the market.

The holding consists of about165ac of farmland with the rest in putative racing facilities, drainage, water reservoirs and dykes

Having been bid to €195,000 at auction it was sold by John Rohan of Sherry FitzGerald Rohan for a figure believed to be in excess of that. It was bought by a local farmer.

The owners of the racetrack bought the property, at the height of the boom and had spent a lot of resources on developing the racing ground.

It was drained, raised and almost ready for a final surface. Located on the Dunmore East road out of Tramore the area is subject to sea flooding so the owners had developed a range of management facilities for this including a sluice gate system for the tide and a pumping system.

A lake was dug in the centre of the track to provide a steady stream of water to water it when the going was too hard. It was used in recent years for some equestrian events including point-to-point races, along with being employed as schooling gallops by local trainers.

On the day of auction Mr Rohan brought the property to auction with a guide price of €490,000 and even though it was only bid to €195,000 before being withdrawn, at the end of the day Mr Rohan had what every auctioneer wants; he had two interested parties, both farmers.

It is believed the post auction negotiations were long and tough but one of the farmers closed the deal and the property sold.

Indo Farming