Local farmer snaps up Newport milk quota farm for €590,000

THERE were four bidders for a neat holding with quota at Newport, Co Tipperary.

James Lee was selling this ring-fenced farm of 39 acres and its perfect ratio of 39,795 gallons of quota at auction, and had given a guide price of €500,000.

Bidding began at €300,000 and quickly rose to €530,000, at which stage the property was placed on the market. It was then bid to €590,000 and sold to a local farmer, whose holding is just five miles or so away from the farm.