A prime 127 acre non residential farm makes €11,000 per acre at public auction
Matt Dunne & Associates RICS SCSI, the Portarlington-based Auctioneer, sold a 122 Acre non-residential Farm at Killeigh, Tullamore, Co Offaly, by public Auction at The Bridge House Hotel, Tullamore on the 13th June 2023.
The Auction was well-attended and as the farm was for sale in one lot, proceedings moved very quickly. Bidding opened at €1 million and gained momentum in €50,000 bids to reach €1.3million. Matt then consulted with his client and put the farm back to the floor. Three more bids brought it to €1.35 million where it was duly put on the market and sold at that figure under the hammer.
The Vendor, a lecturer in Cork, was very happy with the outcome and the purchaser, Mr Alan King a Businessman from Ballingarry, Roscrea, was delighted with his day’s work.
Matt Dunne the Auctioneer said he was somewhat surprised that there wasn’t more local interest, but some areas are just hungrier for land than others, and this wasn’t one of them!
Matt considers the sale price of €11,000 per acre great value for money as it is a top-class grazing farm albeit non-residential. He now turns his attention to two underbidders looking for similar size farms in either Laois or Offaly.