There was a very successful auction last week of a 51-acre farm at Ballinagrath, Ballyhea, close to Charleville and Buttevant (8km), 1km west of the main Cork-Limerick road.
https://www.irishexaminer.com/farming/arid-41778431.html]here[/url] on January 20, and the auction took place at the Charleville Park Hotel on Thursday, February 26. The man wielding the gavel on the day was Michael Barry of Fermoy-based Dick Barry & Son.
The farm was presented in its two lots (separated by roughly 500m) of 27 acres (Lot 1) and 24 acres (Lot 2). It was a package to tempt a variety of potential purchasers and Lot 1 included a three-bedroom single-storey farmhouse and farmyard.
“The auction was well attended,” says Michael, “and there were plenty of interested parties on the day.”
When Lot 1 was presented, bidding began at €500,000 (€18,500/acre) and finished at €740,000 (€27,400/acre). With the inclusion of the house (which is habitable but in need of modernisation), it was always likely to fetch a stronger price.
Lot 2 saw bidding start at €250,000 (€10,400/acre) and went as far as €350,000 (€14,600/acre).
However, when the whole farm was then offered, the combined offers on the separate lots (€1,090,000) was ultimately trumped, with the hammer falling on a figure of €1.16m.
“This was an attractive residential holding, and there was strong interest,” said Michael afterwards. “There were three active bidders for the entire holding, and the selling price of €1.16m equals €23,000 per acre.”