Record Agricultural Land Price (€25,583 per acre) Recorded At Public Auction
Public Auction Report: 36 Acre Arable Farm With Farm House Located at Cappakeel, Emo, Co. Laois ‘Executor Sale ‘(offered in 7 lots) Matt Dunne & Associates
On Friday, 28 June in the Heritage Hotel Killenard, “skin and hair” were flying between the farming community and the business community as to who was going to buy the various lots of land under Matt Dunne‘s Gavel! The Estate of the Late Jimmy Conroy, Cappakeel Emo was on offer, a two-storey residence (requiring extensive refurbishment)and 36acres of land in various lots was offered for sale by Public Auction.
Lot 1 The house on 1.35 acres the reserve of €125,000 was quickly surpassed, and at €170,000 the Auctioneer consulted.
Lot 2 which adjoins lot 1 comprises of c7.5 acres plus hay shed, this quickly surpassed its reserve of €125,000 and was actively bid by five different bidders to €240,000, the Auctioneer consulted.
Lot 3 which was the entire of Lot 1 and Lot 2 i.e The House on 8.75acres was then eagerly sought-after and a local farmer after a lot of toing and froing won the day at €450,000 or a massive €51,428 per acre. In fairness the new owner immediately sold Lot 1 off and he was delighted with his land, i.e. which is well located, with excellent road frontage and site potential.
Lot 4 comprising of c7.8128 acres of grazing land situated fronting onto Wellingtonia Avenue within Emo Court Demesne, the reserve of €100,000 was reached within minutes and the land was eventually sold to a representative of the O.P.W for €160,000 or €20,500 an acre. “A sensible move” says Matt Dunne as the O.P.W should be in control of all the lands within the demesne walls.
Lot 5 comprising of c8.4127 acres excellent arable land, again the reserve of €100,000 was quickly surpassed and Matt Dunnes hammer fell to a local farmer Mr. Edward Mulhall for €160,000 or €19,000 an acre. “A beautiful field in a scenic location” said the Auctioneer.
Lot 6 comprising of c6.387 acres and its reserve of €75,000 was quickly surpassed and the successful bidder, Mr. Liam Davis, a happy neighbour whose dream came through! The selling price was €90,000 or €14,000 per acre. Excellent arable land in a scenic location.
Lot 7 comprising of c4 acres of reasonable agricultural land with limited frontage onto the old N7 close to the New Inn Cross. Bidding opened at €30,000 and 13 bids later Matt Dunnes hammer fell at €61,000 or €15,250 per acre to a Business Man from Mountmellick.
Overall it was a tremendous auction says Matt Dunne, with 4 or 5 bidders for every lot and there is no doubt the attraction was its close proximity to the majestic Emo Court and its pleasure gardens.
Wanted urgently – more Land for disappointed under bidders!!