€2m paid as over 100 acres sells

Kildare land is hot property, for want of a better expression. As if 2017 didn’t prove this enough, a sale last Wednesday highlighted the point once again. A 107-acre parcel, offered in two lots at auction, flew off the shelves for a combined total of just under €2m.

It was the second lot, however, that really stole the headline. Opening at €600,000, or €12,300/acre, it tick-tacked all the way up to a phenomenal €1.175m, or €24,100/acre. It took 15 bids to get the property to its final owner before the hammer fell. The bids were made in increments of €50,000 and €25,000, and the financial calibre of bidders was strong.

One bidder was a solicitor acting in trust for who is believed to be a local equine farmer. The other was a retired businessman from the area. Therefore, it is no wonder the holding made the substantial final price it did. It was the solicitor acting in trust who won the bid. Without stating the obvious, the lands here were of exceptional condition.

The first lot also sold very well on the day, selling under the hammer for an impressive €900,000, or €15,500/acre. Three bidder battled it out for this holding, all solicitors acting in trust. Bidding opened at €800,000, with three bids ensuring it reached its final price.

Neither of the properties are currently zoned, but they are close to a number of existing industrial and commercial developments and there is, therefore, the possibility of some future potential.

The properties benefited from good access to the M7 and this will be further improved with the completion of the Sallins bypass and the third lane from Naas south on the N7.

Auctioneer who handled the sale was Paddy Jordan. Speaking after the auction, Jordan explained that there had been “exceptional interest in both holdings considering the prime location, accessibility and the quality of the lands. Most of those interested were taking a medium- and long-term view and included land bankers, pension funds and wealth management agencies”.

There is no doubt that the excellent location contributed strongly to the performance here. Jordan described the auction as short and sweet, with circa 50 in attendance.

Dairy farmer battle reaches €12k/acre

Recently, two dairy farmers locked horns at an auction for almost 50 acres. When all was said and done, €580,000 was paid for the 48-acre holding located near Golden. With an address of Raheen, a packed auction room watched on as two local dairy farmers battled it out for the top-quality holding.

Opening at €450,000, the bidding was swift. Auctioneer handling the sale Mark Donovan told Irish Country Living that only two bidders were involved on the day, though there were a lot of enquiries prior to proceedings. By the end, the hammer fell at €580,000, or just over €12,000/acre.

The land itself was of top quality, with the majority excellent ground and some of a heavier nature near an adjoining river. Maintained well, it was previously owned by a beef farmer. It was an executor sale and took place in Donovan’s office in Tipperary town.

A flurry of activity in Meath

Raymond Potterton was busy last Wednesday as five separate lots from two separate properties were auctioned. The holdings, located in Tubrid and Ballinrink, near Oldcastle, and Oristown, near Kells, all sold under the hammer in a manner which pleased Potterton.

The first of the properties offered was the residence on nine acres in Oristown. This holding was guided for €150,000 prior to auction and exceeded its guide by €50,000 to finish at €200,000 under the hammer. The property was bought by a solicitor acting in trust for a young couple from the area. The residence itself is a ruin, but there is potential for planning permission. The nine acres are laid out in three nice-sized fields in good condition. According to the auctioneer, it has the capability of being a lovely place and is located circa 2km from the local primary school.

The auction for this package was quick and simple. Three bidders competed and the deal was done. The second property, which was auctioned in four separate lots, was not as simple.

In its entirety, the holding encompassed 52 acres and a residence. In lots, this accounted for a house on six acres (lot one), 24 acres and 12 acres (lot two and three) and finally a 9.3-acre holding (lot four).

The first lot, located at Tubrid, Oldcastle, was a small, one-bed bungalow in nice condition. This holding was also bought by a local couple. It sold for €122,000 under the hammer. The 24 acres and 12 acres were also located at Tubrid, Oldcastle. The first of these, the 24 acres, sold for €167,000, or just under €7,000/acre. With two active bidders, it opened its doors as €150,000 and headed north before selling under the hammer at €167,000. The holding was bought by a dairy farmer, with the highest underbidder being from a forestry background.

This holding is accessed by a right of way and this possibly restricted interest to local buyers. The parcel, which had no road frontage, exceeded its guide.

Lot three, the 12-acre plot, sold under the hammer for €62,000, or €5,170/acre. This was divided into three fields, neither of which were adjoining one another, making this sale tricky.

This holding also had a difficulty in access. Opening at €50,000, two bidders pushed the price to €62,000. Given the mixed quality of land and poor access, the sale was a success, according to Potterton. This parcel was also bought by the same dairy farmer who purchased the 24 acres.

The final lot to be sold on the day was for over nine acres for lands located in Ballinrink, which sold under the hammer for €72,000, or almost €7,800/acre. This was an executor sale for the Brown Estate.

Weather affects sale

Almost 30 acres in Ballilogue, the Rower, were withdrawn from auction recently. The holding was offered by Anne Carton of PN O’Gorman.

Unfortunately, on the day no interest was shown and the property was withdrawn at €240,000 by Carton. The auction of the lands, which were recognised as low-lying, was certainly not helped by the weather of late. The condition of land has been adversely effected and Carton acknowledged that this factor did not help proceedings.

Offered only in the entire, the 29.5 acres were well maintained and kept in good condition. The plot is used for grazing and silage during the summer. It was sold by a dairy farmer. Currently, there are ongoing negotiations with a one interested party.

Kilkenny lands withdrawn at €6,300/acre

Three separate lots were all withdrawn from auction in Co Kilkenny recently. The lots totalled 30 acres and were located in Knockshanbally near Muckalee.

The first lot, a circa 11-acre holding, opened and was withdrawn at €70,000 after receiving no bids from the floor. This lot was good-quality land and was guided at €10,000/acre prior to auction. Divided into two fields, it contained good road frontage.

The second lot, a circa 10-acre parcel, was also withdrawn after receiving no bids. Located opposite lot one, it required some attention and was used for summer grazing. This lot was guided for €6,000/acre before auction.

The third and final lot consisted of 8.5 acres and was also summer grazing ground. This lot opened and was withdrawn at €40,000.

Joseph Coogan, the auctioneer handling the sale, confirmed that both lot one and lot three have received higher offers since the auction. The property was not offered in the entire.