There was a flurry of land auctions over recent weeks with some properties meeting strong demand and exceeding their guide prices. Here are latest results.
Full clearance in Meath and Westmeath
Raymond Potterton Auctioneers offered four properties at auction in recent weeks and had a full clearance. The firm sold 56ac at Bellewstown, Trim, Co Meath, for €770,000 or €13,750/ac. The buyer was a business person with farming interests.
A holding of 27.5ac at Moygrehan, Athboy, sold for €255,000 or €9,444/ac. It was bought in trust for an investor.
Raymond Potterton Aunctioneers sold this 56ac holding at Bellewstown, Trim Co Meath at auction.
A 17ac block of land at Piercetown, Kells, sold for €225,000 or €13,235/ac. Again, the buyer was a business person with farming interests.
A 35ac farm at Clooney, Castletown, Navan was sold in lots. Lot 1 was 12ac and it sold for €155,000 or €12,916/ac. Lot 2 was 23ac and it sold for €335,000 or €14,565/ac. Both lots were bought by local dairy farmers.
“These auctions were all keenly contested by bidders in the room and online,” auctioneer Stephen Barry said. “There was a diverse portfolio of buyers.”
Clare dairy farmer buys Doonass House
Twenty people attended GVM Auctioneers’ Limerick City auction rooms for the auction of 116ac Doonass House, Clonlara, Co Clare. The opening bid of €1m was followed by 11 bids of €50,000 each from three on-site bidders to reach €1.55m. At this stage there was a recess for discussions with the vendors following which auctioneer Richard Ryan declared the farm on the market. He received four more bids of €25,000 before knocking down the farm at €1,650,000 to a Co Clare dairy farmer. The price equalled €14,224/ac.
GVM sold Doonass House to a Co Clare dairy farmer.
The underbidders were a business man from the area with farming interests and another dairy farmer.
The land is excellent quality with the majority in permanent pasture and some mature woodland.
Land values remained strong throughout the year, with great confidence in land among both farmers and investors, Richard Ryan said.
GVM Tullamore sold a farm at Derrygolan and Derrybeg, Killeigh, Co Offaly, in lots. Lot 1 was 16.5ac and it made €160,000 or €9,696/ac. Lot 2 was 8.5ac and it made €95,000 or €11,176/ac. Lot 3 was 20ac and it made €120,000 or €6,000/ac.
31.5ac in Cavan
Eamonn Gaffney Auctioneers sold a property at Rosskeeragh, Belturbet, Co Cavan. Lot 1, 31.5ac, opened at €150,000 and was sold for €210,000 or €6,666/ac to a local individual with business interests. Three bidders competed for this land.
Lot 2 was c30ac and opened at €120,000. Two bidders competed, bringing the property to €190,000 or €6,333/ac. The buyer is again local with business interests.
The firm also sold a 68ac farm at Kilcogy, Co Cavan. Lot 1, 21ac with a derelict house, sold to a US-based buyer for €225,000 or €10,714/ac. Lot 2 was 20ac and it sold to an adjoining farmer for €130,000 or €6,500/ac. Lot 3 was 6.5ac and it sold for €70,000 or €10,769/ac to an adjoining farmer who also has business interests. Lot 4 was 15ac and it sold for €170,000 or €11,333/ac to a farmer with business interests.
Share of Galway commonage
DNG Martin O’Connor Land Sales sold three Co Galway properties in one busy day. First up was a 1/6th share of a c420ac commonage near Oughterard. This amounted to c70.12ac. It had been guided at €75,000 and went on to sell at €90,000 to a local couple who plan to expand their sheep enterprise.
Next were two properties at Maam. A total of 56 bids were made for a field of 2.89ac which had guided at €20,000 but went on to sell for €74,000.
Finally came a holding of 26.42ac at Maam, guided at €40,000. Thirty-eight bids were made on the land and it was knocked down at €77,000 or €2,914/ac.
“We have seen a significant interest already in land that is suited to hardwood plantations because of the higher forestry premiums that are coming on stream,” the auctioneers said.
23ac with stables still on the market
Joint auctioneers REA TE Potterton and Coonan Property offered a 23ac holding at Rathfeigh, Tara, Co Meath at auction. The holding included a yard with 16 stables. The property opened at €250,000 and three bidders brought the property to €360,000. It was withdrawn at this price and the vendor is seeking excess of €400,000. Negotiations with the top bidders are taking place.
The same two agents offered a 42ac farm at Balrinnet, Carbury, Co Kildare. This was withdrawn at auction and is now being guided at €400,000.
Hillburn House sells to German buyer
Sherry FitzGerald Radford brought the 108ac Hillburn House at Taghmon, Co Wexford, to auction. Lot 1, the imposing residence with outbuildings on 16.08ac, sold for €650,000 under the hammer, well over the guide price. Seven bidders took part, one online. The buyer is a German individual living in Switzerland. The underbidder was from the US.
Next up was 61.8ac of excellent land. This was withdrawn at €940,000 – or €15,364/ac – but sold shortly afterwards for a higher price. The buyer is a Wexford business person with farming interests. A number of tillage farmers bid on this land, auctioneer John Radford said. “There were no dairy farmer bidders.”
The property also included 28.5ac of forestry. This was withdrawn prior to auction and negotiations are taking place with Coillte. The forestry is guided at €5,000/ac.
42ac near Gorey
Quinn Property sold a 42ac non-residential holding at Loggan, Gorey, Co Wexford, in an online auction. The land had been guided at €8,000/ac to €10,000/ac and was offered as the entire.
Bidding opened at €300,000 and rose to €500,000. After discussions with the vendors the property was declared on the market. The hammer fell at €565,000, or €13,452/ac.
The firm sold 23ac at Garryvadden, Oulart, Co Wexford. The property was guided between €8,000 to €10,000 per acre, and five parties registered to bid online.
Quinn Property sold this 42ac farm at Loggan, Gorey, at auction.
There was an opening bid of €150,000 and after several rounds of bidding the hammer fell at €220,000, or €9,565/ac.
Quinn Property was due to offer a c64.3ac block of land at Oghil, Redcross, Co Wicklow, in an online auction. However, the property sold in advance of its auction date. The land had been guided at €10,000/ac to €12,000/ac but a deal was done at a higher price.
There was a flurry of land auctions over recent weeks with some properties meeting strong demand and exceeding their guide prices. Here are latest results.
Full clearance in Meath and Westmeath
Raymond Potterton Auctioneers offered four properties at auction in recent weeks and had a full clearance. The firm sold 56ac at Bellewstown, Trim, Co Meath, for €770,000 or €13,750/ac. The buyer was a business person with farming interests.
A holding of 27.5ac at Moygrehan, Athboy, sold for €255,000 or €9,444/ac. It was bought in trust for an investor.
Raymond Potterton Aunctioneers sold this 56ac holding at Bellewstown, Trim Co Meath at auction.
A 17ac block of land at Piercetown, Kells, sold for €225,000 or €13,235/ac. Again, the buyer was a business person with farming interests.
A 35ac farm at Clooney, Castletown, Navan was sold in lots. Lot 1 was 12ac and it sold for €155,000 or €12,916/ac. Lot 2 was 23ac and it sold for €335,000 or €14,565/ac. Both lots were bought by local dairy farmers.
“These auctions were all keenly contested by bidders in the room and online,” auctioneer Stephen Barry said. “There was a diverse portfolio of buyers.”
Clare dairy farmer buys Doonass House
Twenty people attended GVM Auctioneers’ Limerick City auction rooms for the auction of 116ac Doonass House, Clonlara, Co Clare. The opening bid of €1m was followed by 11 bids of €50,000 each from three on-site bidders to reach €1.55m. At this stage there was a recess for discussions with the vendors following which auctioneer Richard Ryan declared the farm on the market. He received four more bids of €25,000 before knocking down the farm at €1,650,000 to a Co Clare dairy farmer. The price equalled €14,224/ac.
GVM sold Doonass House to a Co Clare dairy farmer.
The underbidders were a business man from the area with farming interests and another dairy farmer.
The land is excellent quality with the majority in permanent pasture and some mature woodland.
Land values remained strong throughout the year, with great confidence in land among both farmers and investors, Richard Ryan said.
GVM Tullamore sold a farm at Derrygolan and Derrybeg, Killeigh, Co Offaly, in lots. Lot 1 was 16.5ac and it made €160,000 or €9,696/ac. Lot 2 was 8.5ac and it made €95,000 or €11,176/ac. Lot 3 was 20ac and it made €120,000 or €6,000/ac.
31.5ac in Cavan
Eamonn Gaffney Auctioneers sold a property at Rosskeeragh, Belturbet, Co Cavan. Lot 1, 31.5ac, opened at €150,000 and was sold for €210,000 or €6,666/ac to a local individual with business interests. Three bidders competed for this land.
Lot 2 was c30ac and opened at €120,000. Two bidders competed, bringing the property to €190,000 or €6,333/ac. The buyer is again local with business interests.
The firm also sold a 68ac farm at Kilcogy, Co Cavan. Lot 1, 21ac with a derelict house, sold to a US-based buyer for €225,000 or €10,714/ac. Lot 2 was 20ac and it sold to an adjoining farmer for €130,000 or €6,500/ac. Lot 3 was 6.5ac and it sold for €70,000 or €10,769/ac to an adjoining farmer who also has business interests. Lot 4 was 15ac and it sold for €170,000 or €11,333/ac to a farmer with business interests.
Share of Galway commonage
DNG Martin O’Connor Land Sales sold three Co Galway properties in one busy day. First up was a 1/6th share of a c420ac commonage near Oughterard. This amounted to c70.12ac. It had been guided at €75,000 and went on to sell at €90,000 to a local couple who plan to expand their sheep enterprise.
Next were two properties at Maam. A total of 56 bids were made for a field of 2.89ac which had guided at €20,000 but went on to sell for €74,000.
Finally came a holding of 26.42ac at Maam, guided at €40,000. Thirty-eight bids were made on the land and it was knocked down at €77,000 or €2,914/ac.
“We have seen a significant interest already in land that is suited to hardwood plantations because of the higher forestry premiums that are coming on stream,” the auctioneers said.
23ac with stables still on the market
Joint auctioneers REA TE Potterton and Coonan Property offered a 23ac holding at Rathfeigh, Tara, Co Meath at auction. The holding included a yard with 16 stables. The property opened at €250,000 and three bidders brought the property to €360,000. It was withdrawn at this price and the vendor is seeking excess of €400,000. Negotiations with the top bidders are taking place.
The same two agents offered a 42ac farm at Balrinnet, Carbury, Co Kildare. This was withdrawn at auction and is now being guided at €400,000.
Hillburn House sells to German buyer
Sherry FitzGerald Radford brought the 108ac Hillburn House at Taghmon, Co Wexford, to auction. Lot 1, the imposing residence with outbuildings on 16.08ac, sold for €650,000 under the hammer, well over the guide price. Seven bidders took part, one online. The buyer is a German individual living in Switzerland. The underbidder was from the US.
Next up was 61.8ac of excellent land. This was withdrawn at €940,000 – or €15,364/ac – but sold shortly afterwards for a higher price. The buyer is a Wexford business person with farming interests. A number of tillage farmers bid on this land, auctioneer John Radford said. “There were no dairy farmer bidders.”
The property also included 28.5ac of forestry. This was withdrawn prior to auction and negotiations are taking place with Coillte. The forestry is guided at €5,000/ac.
42ac near Gorey
Quinn Property sold a 42ac non-residential holding at Loggan, Gorey, Co Wexford, in an online auction. The land had been guided at €8,000/ac to €10,000/ac and was offered as the entire.
Bidding opened at €300,000 and rose to €500,000. After discussions with the vendors the property was declared on the market. The hammer fell at €565,000, or €13,452/ac.
The firm sold 23ac at Garryvadden, Oulart, Co Wexford. The property was guided between €8,000 to €10,000 per acre, and five parties registered to bid online.
Quinn Property sold this 42ac farm at Loggan, Gorey, at auction.
There was an opening bid of €150,000 and after several rounds of bidding the hammer fell at €220,000, or €9,565/ac.
Quinn Property was due to offer a c64.3ac block of land at Oghil, Redcross, Co Wicklow, in an online auction. However, the property sold in advance of its auction date. The land had been guided at €10,000/ac to €12,000/ac but a deal was done at a higher price.
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