Farm Ireland

Wednesday 13 December 2017

Midlands farms make up to €12,000/ac

Jim O'Brien

Jim O'Brien

15ac of land in the village of Gowran, Co Kilkenny, land that was originally bought for development, was sold at auction recently for €156,000.

The €10,400/ac price paid was well in above its guide price of €100,000. Auctioneer, Ed Donohoe opened the property at €90,000 and with two bidders in the field the price climbed to €110,000 when it was put on the market and it sold to a local landowner for €156,000.

At the same auction a parcel of 16ac of grassland at Bramblestown, Gowran came with a guide of between €150,000 to €160,000 and sold for €165,000 or €10,300/ac. Mr Donohoe opened the auction seeking offers for the property in two lots and when both lots reached €110,000 he put the entire to the floor seeking a bid of €120,000. It opened there, went on the market at €155,000 and sold for €165,000.

Meanwhile, further north at Tyrellspass, another piece of former development land came to the market. Auctioneer Paul Doyle brought to auction 31ac situated directly behind the Westmeath village. Mr Doyle described the majority of the land as good but that 5-10ac was of poorer quality.

Bidding opened at €200,000. At €275,000, the property went on the market.

Two bidders stayed with the action until the holding was knocked down to an adjoining landowner for €375,000.

Mr Doyle was very happy with the result saying that almost €12,100/ac reflected the solid end of the market.

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