Farm had been guide priced at €6,500-7,000 per acre

On Tuesday of last week, a public auction of a 58-acre holding was held at the offices of PF Quirke & Co Ltd in Clonmel, Co Tipperary.

The property was a residential farm located in the townland of Rathmoley, near the village of Killenaule in south Tipperary, about 18km from Cashel and 10km from Killenaule.

The land was of less-than-average quality, and in need of some effort to bring it back to its best.

According to selling agent Pat Quirke, the land had been let for more than 20 years and its quality level varied, he said, “from good to poor”.

“The land needs substantial investment to bring it to a better standard, with drainage being a priority,” he says.

The land is all in grass and the single-storey residence, the selling agent said, “has not been lived in for upwards of 30 years, and is in very poor condition.”

In addition to the house, there were a number of outbuildings, also in need of renovation, in a yard with a large hay barn and lean-to.

The property had excellent road frontage, and was offered in lots, one of 32.8 acres with the house and yard, and the other lot of 25.3 acres.

While the farm failed to sell during the auction, it was sold immediately afterwards to two farmers for a satisfactory price.

The agent wasn’t in a position to comment on the price achieved for the farm, which had guided at €6,500 to €7,000/acre.