Weather-proof land prices holding strong while letting land slips

In Limerick Tom Crosse of GVM sold a 190ac dairy farm in a series of lots for a total of €4.15m making an average price of €21,842/ac.

Located at Kilcolman in West Limerick about 8km from Ardagh, and 10 minutes from Newcastle West the holding includes a two-storey residence, a modern yard with slats and cubicles and a milking parlour with a 16-unit milking machine and a traditional cut-stone yard.

In the course of the auction a 97ac parcel including the house and yards sold for €2.825m. A second lot made up of 27.5ac of good land with extensive road frontage made €500,000 or €18,000/ac while the third lot, a 52ac parcel of hilly ground with 6ac of forestry was sold for €600,000. The final parcel, a 12ac piece located near the village of Kilcolman made €225,000 under the hammer.

Mr Crosse was delighted with the result saying it shows that good land holds its value, “No fewer than 15 clients had pre-registered with deposits for the auction,” he said.

Tipperary

Across the border in Co Tipperary, Kill House and farm extending to c 60ac near Drom Village about 6km from Templemore and 14km from Thurles sold under the hammer of Vincent Ryan of Thomas V Ryan auctioneer for of €1.85m.

Situated between two roads in the townland of Kilvilcorris the holding of top-class, versatile lands has about 600m of road frontage and a number of outbuildings. The residence is a five-bedroom period house in good condition.

The holding was offered in lots or as an entire. Bidding on the lots was brisk but peaked at €1.8m. Meanwhile, a bid of €1.85 million for the entire won the day exceeding the guided by €450,000.

Kilkenny

In Kilkenny auctioneer Joe Coogan has had a number of successful sales and letting auctions in recent weeks.

A 45ac holding at Clorinka, Muckalee about 7km from Castlecomer and 16km from Kilkenny made €19,000/ac. The farm is suitable for tillage, grazing or fodder production and includes an old farmhouse in need of repair with a courtyard of dated buildings and 12ac of forestry.

Bidding opened at €400,000 and with three active bidders the property went on the market at €620,000. After forty-seven individual bids, the hammer came down at €850,000 and sold to three locals from the area, two of whom are dairy farmers.

Mr Coogan also sold a 69ac farm of mixed land with an old farmstead at Skehana, Castlecomer that made €671,000 or close to €10,000/ac. Proceedings opened at €400,000, the property went on the market at €550,000 and the hammer came down at €671,000 in favour of a family from Ballinakill, Co Laois.

Letting prices not as strong

The Castlecomer auctioneer also had a number of successful letting auctions in recent weeks, but prices were somewhat back on last year.

A 20ac farm at Shankill, Paulstown was leased for five years for a total of €410/ac while a 16ac grazing farm at Crutt, Clogh, Castlecomer was rented for €240/ac for five months until November 1, 2024. A 13ac parcel of grazing ground at the same address was rented for the same period at €225/ac.

Finally, a 32ac silage field at Knocknadogue, Castlecomer was leased for one cut of silage only (not manured) and made €150/ac.