'Hotly anticipated' Carlow dairy farm sells for over €20,000/ac

A 103ac dairy farm, residential property, yard and outbuildings in Carlow has sold for €2.4m at auction in two separate lots to two separate bidders.

The property had been guided at between €1.7m and €1.8m by Quinn Property, which handled the sale.

The property was offered in the following lots, with the entire (lot three) not offered for sale on the day

At the auction, Lot one, located in Slaneyquarter, opened at €900,000 before quickly reaching €1m. The property peaked at €1.2m in the first round of bidding. Lot two, 2km away in Rathbaun, commenced at €350,000 and moved swiftly past €500,000 with five active bidders. Rapid bidding continued as far as €750,000 in the initial round of bidding.

After taking a break for client instructions, David Quinn returned to the room and declared that Lot two had reached its reserve and was on the market. Two further bids were enough to secure the property as the hammer fell at €770,000 (€27,500/ac) for the 28ac. This lot was bought by a local farmer.

Bidding

Attention then turned back to Lot one – 75ac including the house, yard and outbuildings - which the auctioneer described as “short of its reserve” at €1.2m. Further offers were promptly made bringing the property as far as €1.3m initially and later, up to €1.4m.

Following discussions with the client, lot one was declared on the market. There were 22 bids for this lot, with two bidders battling it out all the way as far as €1.63m (approximately €21,750/ac) as finally, the hammer fell. It was sold to a separate buyer to lot two and was bought in trust, Quinn told the Irish Farmers Journal.

The farm had been described by auctioneer David Quinn as being one of the finest farms to come on the market in Carlow for some time. Up until last year, it had been leased by dairy farmer Jamie Kealy.

Speaking immediately after the auction, Quinn said that he was “thrilled to have secured such a strong result” for his clients.

“The total figure achieved equates to €2.4m, an excellent vote of confidence in the market”. He said that the auction had been “hotly anticipated” and noted that “it is rare for a farm of this size to come to the market in the southeast, particularly with land of such quality”.

Due to the scale of the holding, there was interest from across the country in the property.

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