€16,000 at auc­tion for Thurles farm

Irish Examiner - Farming - - PROPERTY - Conor Power

The last auc­tion of the year for Cashel Marts took place last week at the Horse & Jockey Ho­tel. This con­cluded their weekly se­ries of auc­tions. Up for grabs was a 98-acre res­i­den­tial hold­ing at Leugh, near Thurles, that was split into four sep­a­rate lots. Ac­cord­ing to auc­tion­eer Al­i­son De Vere Hunt, the auc­tion was very well at­tended, with about 40 peo­ple present, in­clud­ing bid­ders, so­lic­i­tors and other in­ter­ested par­ties. She de­scribed it as “a won­der­ful farm in four blocks, and less than four kilo­me­tres from Thurles” and of­fered the farm in sep­a­rate lots be­fore of­fer­ing the en­tire hold­ing. “There’s an at­trac­tive bun­ga­low res­i­dence with ma­ture gar­dens that was be­ing sold on the 14 acres, which also in­cludes the old farm­yard. “Then, there are ap­prox­i­mately 50 acres in one block, a 20-acre block that has a derelict house on the land. and a 14.75-acre block of grass­land.”

The hold­ing is close to Thurles Race­course, a course where rac­ing takes place in all kinds of weather, which is an in­di­ca­tor of the sound­ness of the land qual­ity in these parts. In most cases where a prop­erty is split into lots like this, one would pre­dict that the best over­all price would be achieved by lots rather than of­fer­ing it en­tire.

In par­tic­u­lar, the par­cel with the bun­ga­low would have been ex­pected to carry the day. A tar­ma­cadam drive­way leads to the good qual­ity fourbed­room home with 155 square me­tres of in­te­rior liv­ing space. An­other fac­tor was the prox­im­ity of Leugh Na­tional School.

As it was, how­ever, the high­est bid for the prop­erty came when it was of­fered in its en­tirety.

The hold­ing was con­ser­va­tively given a price guide of €1.2 mil­lion.

On the day, this was com­fort­ably ex­ceeded, and the ham­mer even­tu­ally went down at a fig­ure of €1,580,000. This rep­re­sents €16,100 per acre, a very strong price that ex­ceeded ex­pec­ta­tions.

One of the lots at Leugh, Thurles, auc­tioned by Cashel Marts: the out­come was €1,580,000 for the 98-acre res­i­den­tial hold­ing.

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