As high demand for land continues across the country, a parcel of prime tillage ground in Co. Kildare has made over €23,000/ac at auction.
The holding at Grangeclare East, around 15km from Naas, extended to just over 62ac and came with a guide price of €995,000.
The “prime agricultural land” is independently accessed along a main and secondary road in the townland of Kilmeague.
Auctioneer Charlie McDermott from Sherry Fitzgerald McDermott told Agriland that this is “excellent quality tillage ground”.
The holding, which had been owned by the same family for over two decades, had been rented to a “very good operator” for years.
The land, which could be used for multiple agriculture or equine uses, has some site potential, subject to planning permission.
Auction
The land was offered in three lots at a public auction in the Keadeen Hotel in Newbridge on Friday afternoon (June 30).
Lot 1 comprised of just over 39ac, while there was almost 23ac in the second lot.
However, the most interest was shown in lot 3 which was the entire 62.07ac holding.
Four local people were initially involved in the auction which started with a price of €820,000 and increased in bids of €10,000.
After around 45 minutes, there were two active bidders left and when the gavel fell the winning bid was €1.45 million or just over €23,300/ac.
The purchaser was described by the auctioneer as a local businessman and farmer.
Charlie McDermott said the auction result reflected the scarcity of good quality land on the market.
He said that the holding represented “affordable value” for a lot of people.
Land
Land values in Ireland grew by 11.5% last year with a 2.9% increase seen in the fourth quarter and an average price of farmland nationally, excluding Dublin, at approximately €10,850/ac.
The midlands experienced the biggest increase in agricultural prices at 21.9%, followed by the southwest (+16.6%); the mid-west (+12.9%); and the mid-east (+11.1%).
The most expensive region for agricultural land at the end of 2022 was the mid-east, with a price of €12,667/ac, up from a price of €11,400/ac in 2021.
The west remains the least expensive region with a price of €6,634/ac, according to Sherry Fitzgerald’s Agricultural Land Review 2022.