Killeigh farm sells at €16,000 per acre

Variety of properties in Offaly sell at successful auction

Offaly Express Reporter

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Variety of properties in Offaly sell at successful auction

Mary Byrne (Vendor of the Daingean site), Matt Dunne (Auctioneer), Ann Marie Kelleher (Solicitor Byrne & O’Sullivan, Edenderry)

The Bridge House Hotel in Tullamore was the venue for Matt Dunne & Associates' most recent multi auction sale.

A large crowd turned up and eagerly waited to see how proceedings would unfold, and they weren’t disappointed.

First up was a compact 26 ½ acre farm at Lackamore, Killeigh, Tullamore, Co. Offaly. The farm was offered for sale in three lots.

Lot 1 comprised of 9.82 acres of good elevated agricultural land. After numerous attempts by the Auctioneer this was bid up to €190,000 or €19,000 per acre. Lot 2 comprised of 13.88 acres was bid to €160,000 or €11,500 per acre. Lot 3 comprises of a derelict house on 2.76 acres, maximum bid €66,000. The accumulative sum from the three individual lots came to €416,000.
Undoubtedly everyone expected the land would then be sold in lots. Matt Dunne then put the entire 26 ½ acres to the floor and was surprised to find two active bidders for the entire and a local adjoining farmer eventually won the day at €420,000 or c. €16,000 per acre.

Next up on behalf of Ferris & Associates was the Central Garage Mountmellick Limited (In Voluntary Liquidation). Modern 540m2 commercial premises plus large yard with rear access situated on Wolfe Tone Street, Mountmellick. Disclosed reserve was €90,000, sold on the day to a local business man for €94,000. The Receivers were happy with the outcome.

Lot 3 comprised of 0.45 acre development site Main Street, Daingean, Co. Offaly. Strategically located in the centre of this quiet country village but oozing with potential for anyone with the right idea. Disclosed reserve €25,000, sold €45,000 to a Developer from Carlow.

Lot 4 comprised of 48 acres at Ard, Geashill, Tullamore, Co. Offaly which was withdrawn before the auction by the Vendors due to a title problem. The land is currently for sale by Private Treaty and the level of interest according to Matt Dunne, should generate a sale in the not too distant future.