The keen demand for good quality land across the country was very much in evidence at an auction held yesterday (Thursday, May 4) in which a Co. Kerry farm fetched almost €18,000/ac.
The 49ac residential holding at Farrandoctor, Currans, around 5km from Farranfore, was brought to the market just five weeks ago by Stuart and Company Auctioneers and Valuers, based in Castleisland.
The land, set out in one block and split by a local cul-de-sac road, was previously used for grazing and silage and hay production.
Around 9ac of the holding which falls towards the River Maine is in need of reclamation.
A two-storey stone farmhouse located on the lands, in need of total refurbishment and renovations, has superb views over the river and the surrounding countryside.
The derelict house is exempt from both the local property tax (LPT) and Building Energy Rating Certificate (BER).
There are some “modest” farm buildings set close to the house, while the holding is serviced by a private well on the lands.
The sale also included 16.23 Basic Payment Scheme (BPS) entitlements.
Auction
Around 40 people were in attendance at the Killarney Plaza Hotel yesterday when the farm was offered for sale at a public auction.
Auctioneer Tom Stuart opened proceedings at €500,000 and bids of €25,000 each brought the holding to €850,000 in just four minutes.
At this point, there was a short break before the auction restarted resulting in an additional offer of €25,000 before the gavel fell at €875,000.
The final selling price equates to almost €18,000/ac.
Agriland understands that bids were received from six parties during the auction, and while the auctioneer did not disclose the identity of the winning bidder, it is believed to be a local dairy farmer.
Commenting on the sale, Tom Stuart said that the price achieved for the farm had surpassed their expectations and the vendors were satisfied with the result.
He added that the level of competition among bidders in the room was a testament to the quality and potential of the farm, along with its location just off the main N22 Tralee-Killarney road.