LATEST: Two Kildare stud farms sell for a combined price of over €5.5m

Two stud farms sold for a combined price of over €5.5m at a public auction in the K Club last week.

Coonan Property sold Pickering Stud for €3.45m and Windgates Stud for €2.1m.

Bidding opened for Pickering Stud at €2 million with three bidders bringing it to €3,35m before the auction broke for an instruction from the vendor.

Bidding later increased to €3.45m and was knocked down to a local farmer. This sale price equates to a price per acre value of just over €34,000 per acre.

Bidding opened at €1m for Windgates Stud and was taken in various increments to €2.1m by six bidders.

The gavel eventually fell to the highest bidder - it was purchased in trust by a Dublin-based solicitor for a private client.

This sale price equates to a price per acre value of just under €40,000 per acre.

Will Coonan of Coonan Property said the exceptional prices achieved reflected the quality of the properties offered by Derrinstown Stud.

Will Coonan of Coonan Property commented that “We were delighted with the auction result for both Windgates Stud and Pickering Stud which are both very attractive due to the excellent quality lands available and their location within north Kildare.”

Will also commented that “stud farms of this calibre are rarely offered to the market in Kildare which is known as the thoroughbred county. We experienced strong interest over the marketing campaign and the exceptional prices achieved reflect the quality of the product offered by Derrinstown Stud”.