Due to severe fragmentation, the circa 80 acres located around Milltown, Gowran, Co Kilkenny, was offered in four separate lots as the entire was not a realistic option. The lots consisted of circa 12.5 acres, circa 4.4 acres, circa 30.5 acres and circa 31 acres.

The land is currently all laid out in pasture and has been let out for a significant number of years. For this reason it is in need of some cosmetic work.

The auction was handled by Harry Sothern of REA Sothern, Carlow. The first 12.5-acre parcel was located up a small byroad and was in need of some drainage work. The reserve for this parcel was €78,500, although this was well surpassed with bidding not stopping until €106,000 was reached, at which point the gavel dropped.

The second lot of circa 4.4 acres did exceptionally well, making €80,000 when it was finally sold. The reserve for the property was set at €35,000 prior to the auction with the lot being described as perfect for a site, according to Sothern, subject to planning permission being granted.

The final two lots of circa 30.5 and 31 acres are located directly across the road from each other and came with excellent road frontage.

The 30.5 acre lot sold for €300,000. It was guided at €275,000 prior to auction. The other block of 31 acres did not sell and was withdrawn at €250,000, which was short of the €275,000 reserve. Negotiations have been ongoing with the highest bidder and a deal is hopeful.

The combined reserve for the entire was €663,500 or just shy of €8,200/acre. If the final block currently under negations manages to make the reserve, the entire would be in line to sell for close to €9,400/acre or €761,000. Of what was sold under the hammer on the day, the land has currently made €486,000 or excess of €10,250/acre for the circa 47.4 acres sold.