62 acres for €507,000 in south Tipp

HE was looking for €10,000 per acre and locals pooh-poohed the notion, but auctioneer Christy Buckley pulled off a coup last week, when he sold a 62-acre farm at Shanrahan, near Clogheen, Co Tipperary.

The property, which went to auction and was withdrawn at €440,000, was sold to a local farmer the following week for €507,000, or that €8,177 per acre, an excellent result, considering the economic climate.

The purchaser was a recipient of funding for road re-alignment. Tightness in the money market is leaving the property field open for those with ready cash. All others face intransigent bank managers, whose hands are tied by group policy. Severe lack of funding is putting the opportunity of acquiring land out of the hands of young, ambitious farmers. But that’s life, at the moment, in the property world; land is cheaper, but you can’t get the money to buy.

Christy Buckley was the third auctioneer to take on this property in the past three years, following a successful sale in 2005, when the property was sold, including 56,000 gallons of milk quota and a residence, now disposed of separately, for more than €1m.

The vendor, then, was primarily interested in the quota, and has been trying to sell the tillage and grazing land since, because it’s too far away from his home farm.


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