Sale of the century for veteran auctioneer

MAYNOOTH auctioneer Willie Coonan rates the recent sale of Ballymacoll stud as “very close to the top” of his achievements in 56 years of selling property.

The 294ac farm made €8.15m or over €27,000/ac when it sold under the hammer of the renowned auctioneer in recent weeks.

He described it as “a remarkable property that made a remarkable price. In equestrian terms it has to be one of the most prestigious farms in the country,” he said, “It bred nine Classic winners, two Epsom Derby winners and 30 Group 1 winners over the years.”

Ballymacoll, the birthplace of Arkle, has extensive equestrian accommodation and facilities along with a manager’s residence, three staff cottages and a gate lodge.

Mr Coonan said the almost €28,000/ac price has to be at the upper end of the scale for any farmland sold over the last number of years.

“When you consider that the estate does not have a major residence associated with it the price is extraordinary,” he said.

At auction Ballymacoll was offered in lots and as an entire but with no interest forthcoming on the lots the battle for the entire turned into what Willie Coonan described as a “cracking auction.”

Four active bidders drove matters along rapidly until the price on offer reached €7m.

At this stage Mr Coonan declared the place on the market and in a marathon process it took 44 bids to see the hammer fall on favour of a solicitor believed to be acting for the adjoining landowner, Mr Frank Dunne of the Dunnes Stores retail family.

One of the underbidders is believed to have been Luke Comer, one of the Galway construction and developmet brothers, who has bought a number of large equestrian properties in recent years.