A 26.5-acre grass farm located at Luggacurran, Co Laois, exceeded all expectations last week when it sold for in excess of €12,250/acre at public auction. Auctioneer Joe Coogan, Castlecomer, had guided the farm in the region of €6,000/acre in the lead up to the auction but with three keen bidders on the day the price moved much higher.

The farm was originally advertised for sale as 42 acres of hilly but good, dry grazing ground including a derelict stone residence and some stone outbuildings. However, 15.5 acres along with the derelict house and outbuildings was withdrawn from the sale prior to auction meaning just 26.5 acres was offered for sale at auction.

The diminished land holding didn’t dissuade the interest in the farm with three active bidders, all said to be adjoining farmers, contesting for the land. Bidding opened at €150,000 and climbed slowly. The offers went round the room until Coogan placed the land on the market after an offer of €300,000. A final bid of €325,000 or €12,250/acre was enough to see the hammer fall and secure the farm.