THE AUCTION of Bridgemount House in Abbeyfeale, Co Limerick, drew a capacity crowd to Leen's Hotel in Abbeyfeale last Wednesday.
Bidding started at £300,000 and went to £360,000, at which stage the joint agents consulted their vendor and the property was placed on the market. From this point onwards, the bidding became frantic, said estate agent Derry O'Sullivan, and the house and 130 acres of land were eventually bid up to £551,000, considerably in excess of the guide price of £480,000. The presiding auctioneer was Robert Ganly of Ganly Walters, joint agents with North's of Tralee.
The successful bidder was an agricultural consultant and it's believed he bought on behalf of a farmer. The un-successful underbidder was a solicitor representing a client. According to O'Sullivan, most of the bidders on the day were farmers and he described the outcome as a "very good result".
Bridgemount House, a period-style property in need of modernisation, had been owned by generations of doctors and the farm was overseen by a manager in recent years, as the owners lived abroad.
The property has been run under the REPS scheme since 1998 and has not been intensively farmed. The land is quite mixed, says O'Sullivan, but could achieve much higher productivity.
The farmyard has a good range of outbuildings, a four-span hayshed, 28-cubicle cowshed and an obsolete milking parlour.