Farm Ireland

Tuesday 12 December 2017

Top Cat farm exceeds €2.5m

Jim O'Brien

Jim O'Brien

A local land-owning family is believed to have paid more than €2.57m for a 140ac residential farm in Co Kilkenny last Friday. When the value of the period residence is stripped out, the sale price equates to more than €16,000/ac for the land.

Pigeon Park House on 140ac of tillage and grassland at Danesfort, Kilkenny, was described by local auctioneer Ed Donohoe as a superb residential farm.

The property is located on the old Kilkenny to Waterford road, approximately three miles from Kilkenny city and just a mile from the Dublin to Waterford motorway.

There was no shortage of interest in the holding in the run-up to Friday's sale and the property attracted brisk bidding when it was initially offered in lots.

The divisions consisted of the house on 30ac and the remaining 110ac. The former was bid to €725,000 and the latter to €1.55m. But parallel bidding for the entire surpassed this figure, with an offer of €2.28m being tabled.

After discussing matters with the vendors, Mr Donohoe put the entire on the market at this figure. Thirty bids later the hammer finally fell at the eventual sale price.

The property was bought in trust by local auctioneer Pat Gannon, who was believed to have been acting for a neighbouring farming family.

The underbidder was John Rohan, a Waterford-based auctioneer, who was also understood to have been acting for another local landowner.

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Mr Donohoe was delighted with the sale.

He said the sale price showed that exceptional money was still being paid for top class holdings.

Laid out in one large rectangular block, it is bounded on one side by the Kilkenny to Waterford road and on another by the Danesfort to Bennettsbridge road, providing it with extensive road frontage.

The land is divided into a series of large fields, with 110ac in tillage and 30ac of grassland.

While the farm has been let for a number of years, Mr Donohoe said the property had been well maintained and farmed throughout this period.

The house is a Georgian residence that has been the property of the present owners since the early 1950s. It extends to 3,200sqft and while it is inhabited at present, the five-bedroom house requires modernisation and refurbishment.

Along with the five bedrooms, one of which is en suite, the accommodation includes a large hallway, sitting room, dining room and kitchen and a downstairs bathroom.

The outbuildings are arranged in a courtyard setting and many of the stone structures need a lot of attention. The buildings include a range of stables, a lofted coach-house and a four-span barn.

Indo Farming