Strong interest at auction helps €1.56m farm sale
He said he was delighted, not just for the vendors, but for the farm property market in general, as it represented a vote of confidence in the region and the industry. The land had been offered in a number of lots, but sold in two large parcels of 74 and 90 acres.
There was a big auction attendance, but the bids were slow and small, said the agent, adding that he nearly had to book into the hotel for the night. The 74-acre lot sold first, bid up in €1,000 steps, with the hammer nearly coming down 20 times before it was put on the market at €690,000. Bidding then built up to €715,000, at which stage it was sold.
The remaining lots of the lovely old farmhouse and yard on 50 acres, plus a further 32 acres and a four acre site, were auctioned in one 90-acre lot. Stone outbuildings and slatted sheds were included. This lot made €845,000, again after slow and staggered bidding.
It included some fine farmland, said Walsh, but also some “on the heavy side”.
He said an enormous number of people were interested in the property judging by the amount of brochures sent out. But at least seven keen buyers came back to him and said that while they thought they had the money they weren’t able to raise finance from their banks.
The eventual buyer’s identity is not known. However, it’s likely to be someone from the neighbourhood.
The property, four miles from Roscrea and eight miles from Templemore, is bisected by the new Dublin to Limerick motorway.
