A holding with over 167ac of “top quality pasture land” close to Lough Derg in Co. Tipperary has been sold following an auction to a dairy farmer.
The residential farm at Landsdown is located near Portroe and is 12km from the historic town of Nenagh.
Auctioneer William Talbot from Sherry FitzGerald Talbot in Nenagh, who handled the sale, told Agriland that the market for agricultural land is “buoyant”.
Talbot said that there was currently good demand for land but supply is an issue across all sectors.
The selling agents described the Landsdown farm as “one of the finest agricultural holdings to come on the market in this area in recent times”.
Along with 167.65ac of good grazing ground, the holding included a two-storey house, which is approached by a tree-lined avenue, and outbuildings. However, it was noted that the residence and outbuildings were in need of renovation.
The property had been offered for sale in several lots:
- Lot 1: House, outbuildings and around 14.65ac with guide price of €398,000;
- Lot 2: 49.5ac of medium quality/summer grazing with a guide price of €495,000;
- Lot 3: 103.75ac of top-quality pasture lands guided at €1,058,000;
- Lot 4: The entire holding with a guide price of €1,900,000.
During yesterday’s auction at the Sherry FitzGerald Talbot offices, there were two bidders for the entire holding and one bidder for the third lot.
The auction for the entire property began with an opening bid of €1.85 million and was followed by a bid of €1.9 million.
Subsequent bids increased by €50,000 until the property reached €2.15 million at which point it was withdrawn and negotiations began with the winning bidder until a sale, for an undisclosed sum, was agreed.
It is understood that the new owner intends to develop the farm as a dairy enterprise.