A 95-acre non-residential farm, along with an old farmyard, near Ballyroan was sold for just under €2.1 million at auction recently.
The land at Drumashellig, Ballyroan, was offered for sale by Hennessy Auctioneers and was initially guided at €1.4 million before the auction.
Offered for sale in four lots by online auction, there was a lot of circa 59 acres with the yard, a lot of 16 acres and a lot of circa 19.5 acres. The entire was offered also – and it was this that proved most attractive.
With nine registered bidders, there was three rounds of active bidding on each lot. However it became clear that at €1.84 million, the entire was where the most interest lay. The combined total of the other three lots was €1.28 million.
After consultation with the vendors it was decided to put the entire on the market at €1.84 million.
“At this stage it became a two-horse race,” explained auctioneer John Hennessy, “and a brisk bidding battle saw the property exceed €2 million in less than a minute.
“The hammer dropped at €2.08 million, which worked out at €21,895 per acre, an impressive €680,000 above the guide price.”
The farm was bought in trust by a solicitor.
“This premium price is a reflection on the quality of the land sold and its location in the heart of a good farming area,” added Mr Hennessy.
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