48-acre Offaly farm sells for €15,000/acre at auction
According to selling agent Clive Kavanagh, the land quality of this holding was very high, being located in the “Elton Series” of lands as classified under the soils map of Ireland.
Last featured on these pages in the edition of of August 31 last, a 48-acre farm was sold at public auction last week at the Keadeen Hotel in Newbridge, Co. Kildare.
Jordan Auctioneers completed the sale and the attendance was one of quality rather than quantity. There were just three people present but all three were active bidders.
Beforehand, the expectation had been €600,000. At a price per acre of €12,500, it represented tempting value for a nice piece of land located 1.5 kilometres from Rhode village in County Offaly.
According to selling agent Clive Kavanagh, the land quality of this holding was very high, being located in the “Elton Series” of lands as classified under the soils map of Ireland. These are high-quality limestone lands, well regarded and known for high production, whatever the land use.
The property was all in one block and in pasture in three divisions and had excellent road frontage and a mains water supply. Superb trees and natural hedgerows throughout completed an attractive picture for any farmer — whether for livestock, dairying or equestrian use.
Bidding opened on the day at €450,000 (€9,375/acre) and for most of the auction, there were only two bidders active in the process. It wasn’t until the hammer was about to fall that the third bidder made his move in dramatic fashion and the property was sold for €715,000.
At €15,000/acre, it was a very satisfactory result and the buyer is believed to be from the general area.
