Outsiders breeze in for midland farmland sales
THE high winds that plagued Ploughing 2018 brought good fortune to Portarlington auctioneer Matt Dunne.
Potential buyers for properties in the area took advantage of their trip to Screggan to view a number of rural properties on his books.
As a consequence the auctioneer claims that outside interest drove the sale of a 76ac residential farm at Geashill.
It sold after auction to a Dublin man for a price well in excess of the reserve of €450,000 and is believed to have made in the region of €600,000.
Located 3km from Geashill and 16km from Tullamore the farm includes a neat, single-storey residence, a farmyard with a range of good buildings and 76ac.
Extending to 1,750 sq ft, the house is in excellent condition having been recently refurbished and includes double-glazing along with oil fired and solid fuel central heating.
The land, described as good fattening ground, is laid out in grass in seven fields that are well fenced with water supplied from a private well and a public supply.
The yard is comprised of a series of old and new buildings including a five-span hayshed with double lean-to, part of which is slatted, a silage slab and a range of storage and livestock sheds.
Prior to auction Mr Dunne was concerned about the lack of local interest and was also concerned that the lack of road frontage might reduce his options.
However, the keen guide price and advertising at Ploughing time brought viewers from as far away as Mayo. On the day of auction two main contenders took to the field when the place opened at €400,000.
These included a Dublin solicitor, originally from Offaly and acting on his own behalf, while the other was a Dublin man with land interests around Rathcoole.
In tranches of €25,000 the amount on offer soon reached €500,000. As the price hit €510,000 and €550,000 Mr Dunne consulted with the vendor who instructed him on both occasions to continue until, at €575,000, the place was withdrawn. It sold immediately afterwards to the man from Rathcoole for a price believed to be in the region of €600,000.
Kildare tillage
Some 15.75ac of tillage ground at Ballfarsoon, just outside Monasterevin in Co Kildare was up for auction last week. It sold immediately after auction for a figure believed to be in the region of its reserve of €160,000.
Described as ‘excellent land in a magnificent setting’, the holding is 1.6km from Monasterevin and 13km from Newbridge. It has extensive road frontage and is described as good arable ground with a slight elevation.
The property was being sold by three brothers and was bid to €145,000. At this point one of the brothers offered to buy it for €150,000. However, Mr Dunne withdrew the property and it sold immediately after auction for around €160,000.
Offaly farm auction
In another auction Mr Dunne sold a 42ac residential farm at Gorteen, Daingean, Tullamore, Co Offaly. Located 3km from Daingean and 21km from Tullamore the place was bought as an entire making €270,000.
Comprised of 23ac of very good ground along with a semi-derelict bungalow and a yard, the remainder is made up of a parcel of 19ac of marginal land with a derelict cottage.
Opening the auction Mr Dunne offered the first lot; a bungalow on 23ac of arable land with 3.5ac in Sitka Spruce along with a three-column hay shed and lean-to. Opening at €150,000 this lot attracted four customers before rising to €190,000 in a series of €10,000 and €5,000 bids.
The auctioneer then offered the 19ac and the derelict house but this attracted just one bid of €50,000. The entire was then put to the floor beginning at €240,000. Immediately, two parties showed interest and the bidding went to €260,000. Mr Dunne tried the lots again but as no further bids were forthcoming he consulted the vendor and the entire went on the market. The hammer came down at €270,000.
The new owner is Mr Edward Spollen, a builder, who hopes to refurbish the houses. The vendors, Gaffneys of Kildare International Equestrian Centre were happy with the price