Tipperary land: Successful auction ‘bucks the trend of recent sales in the area’

Recently, AgriLand wrote about two parcels of land due to go under the hammer in Co. Tipperary, brought to the market through P. F. Quirke & Co. Ltd.

The first was circa 20.09ac at Newtown, Drangan, Co. Tipperary, with an auction date set for March 3, 2020; the second was two plots on offer, made up of 59.25ac and situated in Kilkennybeg, Killenaule, Co. Tipperary. The auction date for this was March 10, 2020.

Below is a review of how these two holdings fared on the property market.

‘Competition always helps the eventual sale price’

Pat Quirke of P. F. Quirke & Co. Clonmel held a successful auction of circa 20.09ac at Newtown, Drangan, Co. Tipperary, on Tuesday, March 3.

The lands are currently all in grass and in two divisions, in a strong rural area with good road frontage. Furthermore, they are free-draining with a south-easterly aspect.

Pat Quirke said that the lands have been in tillage for a number of years, recently re-seeded and are now back in grass.

The property was marketed over the last month and nine people attended the auction that day, with bidding from three parties.

When offered, the property opened at €150,000 and proceeded from there to €225,000, where a short break for consultation with the vendors took place.

On returning to the auction room, Pat placed the property on the market and bidding proceeded in €5,000 and then €2,000 increments to a final figure of €260,000 (€13,000/ac).

Pat said: “This is an excellent price for Drangan land and bucks the trend of recent sales in the area. It was great to have three committed contenders. Competition always helps the eventual sale price.”

‘Reflects the quality of land’

In addition to the land above, Pat Quirke held another successful auction of circa 59.25ac at Kilkennybeg, Killenaule, Co. Tipperary, on Tuesday, March 10.

Pat Quirke said that this was an excellent parcel of land well located on the Killenaule to Drangan road with good road frontage. The property provides easy access to Fethard, Cashel and the M8 motorway.

The lands are currently all in grass and in very good condition. There is a central farm roadway giving access to all fields, good cattle handling facilities, fencing, water, electricity, etc.

Nine parties attended the auction in the Clonmel auction rooms, with bidding from two. The bidding opened at €300,000 and increased from there to the eventual sale price, under the hammer of €550,000 (€9,283/ac).

Pat Quirke said that this is a good result for lands in the Killenaule area and reflects the quality of the land.