44-acre North Tipperary farm exceeds expectations at auction
Some of the outbuildings on the 44-acre farm in Tipperary.
Last featured here on May 14, a 44-acre farm in North Tipperary was successfully sold at auction last Wednesday, May 21.
The man with the gavel was Tullamore-based Thomas Potterton of REA Potterton. The auction was live at the County Arms Hotel in Birr, with a simultaneous auction online via the LSL auctions platform.
The pre-auction expectation was between €12,000 and €13,000/acre.
The farm is at Castlesheppard, approximately 3kms off the N52, 8kms from Borrisokane, 15kms from Birr and 22kms from Nenagh.
“We had great interest in the land prior to the auction,” says Thomas. “On the day itself, we had a full room – about 25 to 30 people – as well as a couple of people who had registered online. The bidding opened at €400,000.”
With four bidders in the mix initially (including one online), the value of the farm increased up to €520,000. After it passed the €550,000 mark, there were just two bidders remaining – one in the room and one online.
“We declared it on the market when it reached €580,000,” says Thomas. With no further bids coming, it was sold to the bidder in the room, who purchased it in trust – possibly on behalf of a farmer.
At a price of €13,200/acre, it was a satisfactory one for the vendor, exceeding expectations.
