Auction of 164-acre Kilkenny farm fetches over €19.5k/acre
The 164-acre Kilkenny farm which has grassland and tillage land was sold at auction last Friday.
Last featured in this site on September 10, a 164-acre farm in Kilkenny was successfully sold under the hammer on Friday, October 3, at the Rhu Glenn Hotel, Slieverue, Co. Kilkenny.
“The lands are some of the finest to come on the open market in recent years,” said auctioneer Anne Carton in advance of the sale.
The farm is at Knockbrack, 12km from New Ross and 11km from Waterford City, with the farm featuring grassland and tillage land. Access to the property is excellent, with ample road frontage.
The public road was the natural separator, giving two lots of 74 acres and 90 acres, respectively. The option to buy in lots and the rarity of a property of this size in this specific area made it a highly anticipated event.
On the day, there were no takers for the two separate lots. When offered in its entirety, however, it was a different story. The bidding opened at €1,500,000 and quickly rose to €3,000,000 in increments of €100,000.
“There were four parties actively bidding at this point,” says Anne. “Then two parties bowed out and, once bidding reached €3.1m, it was declared on the market. There was one final bid of €3.2m and the hammer fell — sold to a local dairy farmer.”
The pre-auction price expectation had been €15,000-€17,000/acre. The final price equates to over €19,500/acre — a very satisfactory result, if not an entirely surprising one.
“The result shows, yet again, the demand for quality land,” said Anne afterwards.
