While much of the talk in the press of late has been about a stagnant agricultural land market in Munster, Thomas V Ryan Auctioneers in Thurles seem to be managing to buck the trend somewhat.
On April 28 last, they conducted a successful sale by public auction of a 67-acre residential farm at Ballycahill to the west of Thurles.
The auction took place at the famous Hayes Hotel in Thurles. Auctioneer Vincent Ryan says both the vendors and the agents were very pleased with the result, which saw the holding sell for €702,000, considerably more than the price guide of €665,000.
“There was a decent crowd present,” says Vincent.
“There were four active bidders present who were bidding on the lots and there were two bidders seeking to buy the entire holding.”
According to the agent, bidding on the entire holding went as high as €700,000, but when the farm was offered in lots, it edged out the bids on the entire holding by €2,000.
Lot 1 was a 3.8 acre parcel with a derelict house and outbuildings (which made €82,000). Lot 2 constituted the bulk of the land (63.9 acres, which made €620,000, or €9,700/acre).
“All the purchasers were locals. There hasn’t been a lot of land put for sale by public auction around here in the last 12 months, and given the recent commentary in newspapers about slumps in prices, it was a very good result.
“The last few we’ve had, we’ve made over the asking price.”
Vincent will be back on stage with gavel in hand on June 7 at the Anner Hotel in Thurles. This time, it’s a very large holding of 217 acres in the townlands of Garrane and Liss, adjacent to the village of Borrisoleigh.
Described by the agents as a prestigious holding and “one of the finest properties of its kind to come on the market in recent years”, it constitutes a period house (Fortwilliam House) with all the “big house” features such as walled garden and gated entrances, and large tracts of fine land.
The farm enjoys about 1km of road frontage onto the Pallasgreen road leading from Borrisoleigh.
Unsurprisingly, the substantial holding will be offered in lots — six in total, including the entire holding, and all with roadside access.
The stunning 6,000sq ft, 10-bedroom house will be in Lot 1, along with 5.99 acres incorporating mature trees, walled garden, concrete yard, stone built sheds and two gated entrances.
Features of the listed home include timber sash windows, shutters, covings, ceiling centrepieces, corbels, fireplaces, Aga cooker in the kitchen and oil stove in the living room.
This lot will surely attract a strong cohort of bidders eager to maintain and restore such a rarity to its best.
“There are sections of woodland around the house and there’s a small section of woodland in the middle of the farm too,” says Vincent, “but 99% of the property is in grass and it’s top class land.”
Lot 2 is a 94.86-acre parcel with very good quality land, and a pond.
Lot 3 comprises 90 acres of what the agents say is top class land, and includes some stone outbuildings.
Lot 4 is 12.6 acres, and Lot 5 is an adjoining 14-acre parcel.
It will be fascinating to see how this property fares.
Given the rarity of the entire holding on sale, there should be a range of interested parties, from those dreaming of owning their own stately home to those eagerly awaiting the chance to buy a large good quality farm, as well as those looking at more modest expansion. The price expectation for this property is in the region of €2m.