Revealed: New record for price per acre after auction of land in one Tipperary area
The buyers of the various lots are local dairy farmers looking to expand their platform.
P.F. Quirke & Co Clonmel offered three blocks of land for auction on Tuesday, October 14 in their Clonmel offices.
The first lot was 14.88acres with an old stone house at Ballyluskey, Drangan.
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This opened at €200,000 and with only one bidder was withdrawn and sold subsequently for substantially higher.
The next lot was 6.1acres at Cloughtaney, Drangan. This met good demand and multiple bidders in the room and the hammer finally dropped at €120,000 or €20,000 per acre.
The largest block extended to 36.17acres at Newtowndrangan.
This was described by Pat Quirke as “good quality land in nice divisions”.
Bidding opened at €500,000 and rose to €700,000 when the property was placed on the market and sold.
Pat said that the vendors were very happy with the prices achieved being in the region of €19,500 to €20,000 per acre, which is a new record for Drangan land.
The auction was very well attended by local parties generating healthy demand.
The buyers of the various lots are local dairy farmers looking to expand their platform.