Home News Business Farm on the Laois-Offaly border sells for over €1.4m

Farm on the Laois-Offaly border sells for over €1.4m

A farm in Killeigh in Offaly – just across the Laois border – has sold for €1.439m or almost €10,800 an acre.

The 133.5 acre grazing and tillage farm sold in three lots at auction last week.

Gordon Cobbe of selling agents GVM Tullamore offered the property for sale in lots and as an entire at auction. The lots comprised of a 48.5 acre parcel of grassland, 82.5 acres of tillage ground and a 2.5 acre piece suitable for a site.

The initial stages of the sale saw the lots attract a number of bidders for each one, with the 48.5ac lot opening at €400,000. The 2.5 acre site opened at €50,000 and the large 82.5 acres of tillage ground opened at €650,000.

This represented a strong opening to the auction and saw the combined price for the lots standing at  €1.1m.

When the entire was put to the floor it attracted a bid of €1.2m, however, this was the last bid it attracted.

The auction concluded with the 48.5 acres lot selling to a local for €540,000 while the 2.5 acres sold to another local for €74,000.

The 82.5 acre lot was bought by a Meath tillage farmer for €825,000, meaning the entire went for €1.439m.

SEE ALSO – Portarlington land and bungalow sells for €550,000