Strong interest at auction helps €1.56m farm sale

DESPITE the doom and gloom about NAMA and the state of the economy, there was a strong land sale result last Thursday in Roscrea when auctioneer John Walsh sold a fine 164-acre farm at Ballygorteen for €1.56 million.

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.