Tipperary-based auctioneers Matthew Ryan & Son enjoyed a successful public auction on November 15 at Ballykisteen Hotel in Tipperary town.
The property was featured on these pages on October 26, and initially involved a holding of some 127 acres in the townland of Ballybrenogue, near the village of Cullen.
The family retained about 23 acres, and 104 acres was offered for sale on the day.
Expectations were high that dairy farmers would emerge in force to compete for this top quality Golden Vale land, with impressive outbuildings.
There was a good turn-out, said selling agent Matt Ryan, with locally-based interest dominating:
“There were about 150 people at the auction.
“There were four bidders in all. The bidding opened at €750,000 and the farm was put on the market at €1,000,060.”
Three bidders were still in the running at that crucial point, and the hammer eventually went down on a figure of €1,250,000 (€12,000 per acre) to an auctioneer acting in trust.
“We were expecting between €9,000 and €10,000 an acre, so it certainly exceeded that.”