By Conor Power
Cashel Mart’s new trend of a series of auctions has had some mixed success in its first week.
On November 7, the first multiple auction involved three South Tipperary properties featured here at the end of October last, with price expectation in the region of €17,000 per acre.
The first portion was a 13-acre holding in the townland of Hughes Lot East, Cashel. It went as far as €165,000 (€12,700/acre) before being pulled from auction.
The second property was a 13-acre tillage farm at Templenoe. It too was withdrawn.
But the third farm, a 22.5-acre farm at Garranlea near New Inn, sold for €293,000 (€13,000/acre).
While it doesn’t compare with some of the record prices achieved by the same auctioneers earlier on in the year, it was a strong price.
Furthermore, auctioneer Alison De Vere Hunt confirmed that negotiations are still ongoing with the highest bidders for the other two properties,and both are expected to sell for good prices.
“There was a fine crowd here in the mart,” says Alison, “and hopefully we’ll be over the line soon with all those properties presented.”
In the meantime, the series of public auctions continues, and one of the more fascinating ones to keep an eye on will be an 88.75-acre farm that’s coming up for sale on the next Tuesday at the Horse and Jockey Hotel at 2:30pm.
The large property is located in the townland of Ballycrane on the edge of Thurles town, in close proximity to the former sugar beet factory.
“It’s all top-quality tillage land,” says Alison, “and it’s there on the edge of the town between the town itself and the old sugar factory.
“There’s about one hundred metres of road frontage.
There is very little waste in this sizeable holding, which is an uncomplicated parcel with no residence and just one long old stone building located close to the public road.
It has been leased, and very well run as a tillage operation for a number of years, according to the selling agent.
“There’s been quite a bit of interest in it so far,” says Alison. “I suppose it’s popular for a few different reasons.
“If someone wanted to use it as a farm, then it’s a very fine farm. If someone wanted to purchase it with a view to speculating on its value a number of years down the line, it might hold that potential as well.”
Whatever about its promise value, there’s no doubting its value as a prime agricultural holding. It ticks a lot of boxes that should interest under-bidders for many of the previous auctions of land in these parts earlier in the year.
It has the size and the quality and ease of access.
Moreover, it comes with some hope value, due to its very unusual location right on the edge of one of the larger market towns in the area.
The price expectation is €15,000 per acre.
This is potentially a more sought-after commodity than the three smaller holdings auctioned just over a week ago, so its price guide might yet prove to be a very conservative one.
However, the end of the year often brings a bit more uncertainty into the minds of buyers, so we’ll have to wait and see what happens in just under a week’s time.