Farming

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Tip-top bid for Tipp land

A packed auction room at The Anner Hotel, Thurles, saw almost €14,000/ac paid under the hammer for a 51ac residential roadside farm at Garrynamona, Ballycahill, four miles from Thurles.

Described by Vincent Ryan of Thomas V Ryan auctioneers as a lovely place comprising the best of agricultural land, the farm is in good heart and comes with extensive road frontage on to two roads.

The eight fields making up the property are divided by a series of fine stone walls, while the farmyard and old residence are set in a corner of the property.

The two-storey house is in need of substantial modernisation and while the farmyard is mainly of the traditional kind it includes a slatted unit, haybarn with lean-to and a series of old stone outhouses.

There was great expectation when the auction opened but auctioneer Thomas Ryan had to wait for an opening bid.

An offer of €400,000 got matters off the block and with four active bidders in the field the sale proceeded swiftly in increments of €10,000.

The property went on the market at €660,000 and was eventually sold for €705,000 to a local solicitor believed to be acting in trust for a local farmer.

According to Vincent Ryan there was tremendous local interest in the property in advance of the auction.

"This was a one-off sale as it is rarely you would get land of this quality in such condition coming on the market in this area," he said.

The final price of €13,823/ac is reflective of some of the more recent prices being paid at auction for better land throughout the country.

Indo Farming