Horsepower pays €38,000/ac for 64ac grass farm on the outskirts of Clonmel
Deep pockets of equestrian sector are still driving South Tipperary prices as holding sells for €2.425m
The buying power of the equestrian sector was in evidence again in South Tipperary when a massive €2.425m, or almost €38,000/ ac, was paid for the 64ac farm at Parkville on the outskirts of Clonmel.
The grass farm, which has been rented to the same tenant for 47 years, has extensive road frontage, is currently in grass and while zoned agricultural, is situated beside lands zoned for development and close to a sub-station.
The executor sale was conducted by Pat Quirke of PF Quirke, and it is believed the property bought by interests close to Coolmore while the underbidder was a neighbour with business interests.
Bidding opened at €1m and with three customers in action, the price soon reached €1.4m and the holding was declared to be on the market.
Two more bidders entered the fray, continuing the action until, after 47 bids, Mr Quirke dropped the hammer at €2.45m.
Commenting on the sale, Mr Quirke was the soul of discretion when he said: “This exceptional price underlines the value of certain pockets of lands in Tipperary, particularly where there are special circumstances leading to competition.”
Drangan
Mr Quirke did not quite have the same result when he brought a 60ac residential farm at Corbally, Drangan, Co Tipp.
The residence in need of substantial renovation and approximately 24ac of the lands are in grass and 36aci n forestry, planted in 2014.
After opening at €350,000, the place was bid to €520,000 where it was withdrawn and sold after auction to the highest bidder for a higher price.
Mr Quirke said the low price of the property at less than €10,000/ ac can be attributed to the young forestry and the substantial renovation required by the house.
Contrasting the two sales, the auctioneer said: “Although the land in Corbally is only 20km from the land in Parkville, the difference in lands values, due to location and competition, is huge!”
Ballyburn
An 80ac farm at Ballyburn, Castledermot in Co Kildare made €1.655m, or €21,000/ac, under the hammer last week while an 18th-century house on 7.5ac that made up the residential portion of the property was withdrawn at €570,000.
The land is described by Philip Byrne of Coonans as prime quality, free draining ground in one large division that has been in tillage in recent years but could equally suit grazing.
“There is development potential for a residential site, agri cultural enterprises and/or renewable energy development, all subject to planning permission,” Mr Byrne said.
The farm is close to the M9, 5km from Castledermot and 10km from Carlow.
A packed auction room saw bidding open at €1m and as four bidders entered the chase, the price climbed swiftly to €1.45m. At this point two bidders dropped out and two remained in contention steadily bidding and soon the amount on offer reached €1.61m.
The place was put on the market at that price and another €45,000 was added to the price before the hammer fell at for €1.655m when the place sold to a Carlow-based farmer.
Wexford
At Ballyboy, Ferns, Co Wexford a 23ac holding with a derelict stone-built cottage sold for at €510,000, or €22,000/ac, under the hammer of David Quinn.
The land is 6km from Ferns, currently in grass and has extensive road and river frontage. Buildings include a derelict farmhouse and a dated yard.
Bidding opened at €200,000 and climbed ‘in the blink of an eye’ to €440,000, according to Mr Quinn. The hammer fell at €510,000, or €22,000/ac which the auctioneer describes as ‘a remarkable’ price.
€21,600/ac in Meath
In Meath, Raymond Potterton auctioneers sold a 12.5ac field at Moorechurch, Julianstown for €270,000, or €21,600/ac.
Located about 9km from Drogheda and fronting on to Cock Hill road, the ground is in permanent pasture.
At a lively auction, bidding opened at €140,000and climbed until a figure of €225,000 was on the table. At that point it was put on the market and sold to a local buyer.