Top farms are making over €20,000/ac at auctions around the country

Farms and land continue to sell well at auction with top properties making over €20,000/ac.

A 327ac farm in Co Westmeath has sold at auction for €7.96m. The farm at Annascannon, Killucan was offered - and sold – in three lots, one with a quarry, an inert waste facility and gravel deposits. Lot 1 was 198ac and it contributed most of the sale price.

The joint agents were James L Murtagh and RE Thomas Potterton. Lot 1 opened at €3m. Five bidders - all involved in quarrying - then competed. It went on the market at €5.3m and sold for €6.5m.

Lot 2 was 74ac with frontage on the Royal Canal. It opened at €600,000 and sold to a local dairy farmer for €910,000 or €12,300/ac.

Lot 3 was 54ac and it opened at €400,000 with three locals then competing. The winner was a farmer with agri-business interests. Bidding over the phone, he got the land for €550,000 or €10,185/ac.

South west

Joe Coogan got the south west auctions in Kilkenny off to a lively start with a 34ac holding at Newchurch, Kilmaganny, selling for approximately €23,500/ac.

The bidding opened at €600,000 and four bidders then competed. At €750,000 the land was declared on the market, and it was knocked down at €800,000.

Coonan Property sold a block of north Co Dublin tillage land for €24,720/ac. The 36ac was located near to the Dublin and Meath border in an area of very productive farming, 3.5km from Oldtown and 8km from Ashbourne.

The bidding opened in the room at €700,000, and with two active bidders, the figure rose to €850,000. At that point the property was declared on the market. New bidders then became involved, and the land was knocked down to a local businessperson at €890,000.

Back in Meath, the momentum continued as two additional properties were snapped up at action. Raymond Potterton auctioneers sold the 132ac dairy farm at Boolies Great, Duleek, Co Meath for €2.375m. The farm had a range of modern dairy buildings and a bungalow residence.

It was sold with a sitting lease tenant. The winning bid was made online by a bidder acting in trust.

Raymond Potterton also sold 58.9ac with a farmyard at Hartstown, Clonmellon, Co Meath. There was early bidding on lots, but the main action waited for the entire. It opened at €650,000 and three main bidders brought it up to €900,000, at which point it went on the market. It was then knocked down at €950,000 to a local farming family.

Over in Offaly, James L Murtagh sold a 74.5ac non-residential holding at Cappincur, Tullamore for €930,000 or €12,480/ac. The holding was mixed with the land at the north end being top quality, but with some of the land at the south end requiring improvement work.

GVM Auctioneers also sold a c8ac holding at Kilcooney, Geashill, Co Offaly for €125,000.

To Wicklow next and Quinn Property sold a 58ac farm at Ballymaghroe, Knockananna prior to auction. The holding, which had sheds, was due to be auctioned on Wednesday, 18 June in lots.

However, an individual made an offer for the land ahead of the sale and a deal was struck above the €350,000 guide price. The actual sale price has not been disclosed.

It was Co Clare’s turn next – and it certainly didn’t disappoint. Joint agents O’Neill & Co, Naas, and GVM sold a 95ac holding at Ballycannon West, Meelick, Co Clare. The property was offered by public auction on Tuesday, 17 June with bidding both in-person and online.

The property was bid to €625,000 at which point it was withdrawn. Following negotiations with the highest bidder, the property was sold shortly afterwards for a figure well more than its €750,000 guide price. The buyer is understood to be a Cork-based businessman.