Only two bidders, but 78-acre Kilmallock farm sold for €11,000/acre

A large crowd attended the public auction of a 78-acre roadside farm located at Ballingaddy North, Kilmallock.

The auction — conducted out by Richard Ryan of GVM Auctioneers — took place at Bulgaden Castle in Kilmallock.

The farm on offer was described by the auctioneer as a “renowned dairy farm situated in the heart of the Golden Vale, laid out in easily-managed fields… and serviced by central roadways.”

Situated less than 2km from Kilmallock, the property came with a 10-unit milking parlour, 60-cow cubicle accommodation, calving pens and ancillary offices.

Even though there were only two bidders involved throughout the process, the final price was strong and was, according to the agents, “in keeping with prices of good quality agricultural land in the mid-west region”.

Bidding opened at €500,000, after which a series of bids in increments of €25,000 brought the value up to €725,000.

After a short recess, another round of bids increased the price to €810,000.

There followed another recess, and when the property was offered once more to the floor, the price rose to €860,000.

At this point, Mr Ryan informed the assembled public that the property was on the market.

The property was offered one final time, but there were to be no further bids, and the gavel came down at the sale price of €860,000 (€11,000/acre).

Both bidders retained anonymity. The successful bidder is believed to be a Co Tipperary farmer acting in trust for a locally-based family with farming and business interests in the Kilmallock area. The unsuccessful bidder was represented by a solicitor from South Kerry.


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