21-acre Kilkenny holding making over €12k/acre post-auction
The property was presented in two lots, which are located about 1km from one another — Lot 1 of 14.35 acres and Lot 2 of 6.8 acres.
Last featured here on January 25 last, a 21-acre land parcel in Co Kilkenny was put up for public auction last Thursday (March 16) at the offices of the selling agent Joseph Coogan in Castlecomer.
The property was presented in two lots, which are located about 1km from one another — Lot 1 of 14.35 acres and Lot 2 of 6.8 acres.
With a setting 5km northeast of Ballyragget, 6km from Castlecomer and 30km north of Kilkenny City, the holding would have been of interest to a number of the many dairy farmers in the area.
Traditionally speaking, small holdings such as this would have sold very strongly because of its affordability to a wider range of prospective buyers.
However, the growing need for larger tracts of land to offset against nitrates required by so many dairy farmers now means the focus has shifted to the larger holding, with larger farms hitting some of the highest prices lately.
And so it seemed to go with this particular auction. With a pre-auction price expectation of between €12,000 and €14,000 per acre, Lot 1 received a bid of €150,000 (€10,400/acre) at auction and since then, the highest bid at the time of writing is €160,000 (€11,100/acre).
Lot 2 was sold on the day for €95,000 (just under €14,000/acre), meaning the overall price being paid, as things stand, is just over €12,000/acre — within the price expectation and possibly due to climb higher before it is sold.
