A 104ac holding located outside the town of Borrisokane in north Co. Tipperary, between the N52 and N56 to Birr and Portumna and about 20km from Nenagh, will go under the hammer in the Abbey Court Hotel, Nenagh, on Thursday (April 6).
“In two lots, divided by the Borrisokane to Eglish Road, the land is entirely level and all in pasture, laid out in a series of large fields,” said auctioneer, Michael Harty of Central Auctions.
“The main lot is made up of 74ac. That includes buildings comprising of slatted accommodation for 100 cattle, a three-column walled haybarn, holding yard and silage base,” he said.
“The other lot is a 30ac portion made up of 16ac of good grazing ground and 14ac of softer ground and bog. It is also available in one entire lot.”
The farm at Ballyrourke was bought over 50 years ago by the current owner who is now retiring from farming.
Michael is guiding the land, which he billed as “top quality”, at €15,000/ac.
Demand for land
Meanwhile, €27,000/ac was achieved for a circa 10ac roadside holding in Caim, Enniscorthy at online auction on Tuesday (March 28).
“The auction saw an excellent circa 10ac roadside holding come to the market. The property is located 1km from from Caim village along a quiet local road, 7km west of Enniscorthy and the M11,” said auctioneer, David Quinn.
He had guided the property at €15,000/ac and said that interest levels had been very positive since they first advertised this property.
“There is clearly a strong depth of demand for agricultural land with 15 parties registering to bid on this property. While the bulk of the interest came from local farmers and businesspeople, a number of registrations came from further afield,” the auctioneer said.
On the day of the auction, there was an opening offer of €100,000 and with rapid early bidding, €200,000 was quickly reached. Bidding continued with more parties becoming active as the auction shifted up through the gears.
The auctioneer called for a break to take client instructions, with the bidding at €235,000.
Upon his return to the auction room, David declared the property on the market which prompted several quick offers, bringing the bidding up to €255,000.
Ultimately, the hammer fell at €269,000 a sensational price of approximately €27,000/ac. The price achieved equates to approximately 80% over the guide price.
After the auction, David expressed his delight with the result.
“This was an extremely lively auction from start to finish. There was strong competition from six bidders to secure this smashing piece of land and I am glad that we secured such a strong result for our client,” he said.
“While we have achieved several outstanding results for the past 12-18 months, the €27,000/ac achieved today has lifted the bar even higher,” he said. The property was bought in trust by a solicitor.
Quinn Property’s next auction takes place on Wednesday, April 5, where a circa 3ac roadside holding near Ferns, Co. Wexford, comes to the market.