I’m told that bidding is heating up considerably for a 128ac Tipperary farm that didn’t sell at auction recently.

The residential farm at Ballynacloona, Carrick-on-Suir, went under the hammer on 12 June but was withdrawn at €1.8m (€14,000/ac) as it did not reach the reserve price.

The property includes a four-bedroom house and two guest apartments, as well as extensive road frontage.

The Dealer understands that John Magnier’s Coolmore, which owns 70ac nearby, and a farmer are now going head-to-head to secure the farm. I’m led to believe that bidding is now at €2.7m, or €21,000/ac.

Speaking of things heating up, court proceedings will resume next Monday in the High Court battle between Coolmore and Barne Estate.