Tipperary triumph as lots make €850k
Auctioneer delighted with result for 101ac holding in Premier County
A South Tipperary farm bordering Rockwell College and divided by the M8 motorway at Marlhill, Co Tipperary was sold under the hammer on Wednesday, April 6 at the offices of Clonmel auctioneers Stokes and Quirke.
The auction saw the farm sell in two lots. Lot one, consisting of 61ac of top-quality grassland, sold for €540,000 or €8,852/ac while a 40ac lot made up of heavier quality land that includes a derelict house and a substantial stable yard made €310,000 or €7,750/ac.
The farm, located about 11.5km from Cashel and 14km from Fethard, was originally a stud farm renowned for adjusting and pre-training horses.
More than 30 people crowded into the offices of Stokes and Quirke in Clonmel for the sale. According to auctioneer John Stokes, bidding was lively when lot one opened at €300,000 and four bidders entered the fray. The property went on the market at €540,000 and was bought for that price by the highest bidders, a local farming family.
Lot two, made up of 40ac with a derelict house and a stable yard, opened at €100,000 and three bidders drove the sale until the lot went on the market at €310,000. It was bought at that by a local farmer with business interests in the area.
A customer with an interest in the entire stayed with the bidding on the lots but failed to buy the property as a unit since the vendors wished to sell in lots.
Auctioneer John Stokes was delighted with the sale.
“Any day you get a sale is a good day in the current climate. We were guiding at €9,000/ac and came as close as doesn't matter. We are particularly pleased to see farmers back in the market,” he said.