Portarlington land makes €7,800/ac as farmer wins battle to buy a bargain

Jim O'Brien

Jim O'Brien

A 22ac holding at Ullard, Portarlington, Co Laois, sold under the hammer last week for €171,000 (€7,800/ac).

This was the third time in seven years the same holding had been sold by auctioneer Matt Dunne, with the prices reflecting the times. In August 2007, it went for €342,500 (€15,600/ac), while in 2005 it sold for €295,000 (€13,500/ac).

Set in a quiet country location 2.5 miles from Monasterevin and Portarlington, the farm land was described as top quality arable ground only recently put in grass.

Supply

It is well fenced with a constant supply of water.

More than 10 people turned up for the auction and the bidding opened at €100,000.

The land was quickly put on the market at €165,000 and two local farmers battled it out before it was knocked down to neighbouring farmer Michael Bradshaw for €171,000.

"The last two buyers were business people who enjoyed the upturn in the property market and had most probably sold property at a high price," Mr Dunne said after the auction.

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"This is the first time within the last 10 years that farmers could actually compete at auction for this land and buy it at a fair price. In my opinion, the price achieved is indicative of the value of good agricultural land at present."

Indo Farming


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