A Portlaoise farm has sold for over €1.3 million at public auction this afternoon.
The 67-acre holding, which included a house and farm buildings, was sold in three lots for a total of €1,315,000 – meaning it made €19,514 per acre.
The land is located at Clonboyne close to the M7 motorway on the Mountrath road and less than two miles from Portlaoise town centre.
Handled by Joe Coogan Auctioneers, the auction took place on the land with only a limited number of cars allowed to attend due to the Coronavirus-related restrictions.
When advertising the sale, Joe Coogan had said it had “excellent potential for development (subject to planning)”.
Lot 1, which comprised 40.601 acres plus the farm buildings and the two-storey traditional farmhouse, sold for €945,000 – €23,275 per acre.
A Kilkenny-based solicitor, acting on behalf of a client, was the successful bidder. The under-bidder on that lot was a local farmer.
Lot 2 of 13.062 acres and Lot 3 of 13.724 acres went for €170,000 and €200,000 respectively coming in at €13,014 per acre and €14,573 per acre.
In the case of both Lot 2 and Lot 3, the same Laois-based solicitor representing a client (or clients) was the successful bidder.
It is not known at this stage if the buyer/s have development intentions or if it’s for agricultural use.
The land sold went for well above the average price per acre which was €11,523 in Laois in 2019 and €8,971 nationally.