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21/09/2021

Seven-acre plot of Offaly land sparks bidding war before selling for big price

Seven-acre plot of Offaly land sparks bidding war before selling for big price

Matt Dunne conducting the auction

Matt Dunne Auctioneer used the platform LSL Auctions for selling a seven-acre field with small farm yard at Kileenmore, Killeigh, about three miles from Tullamore, recently.

“Whilst the land wasn’t top grade it was in the right location and ten people registered to bid,” outlined Matt Dunne.

On the day, four active bidders arrived at Matt Dunne's auction rooms and the remainder were online.

Bidding opened up at €70,000 with increments of €2,500.

The bidding moved at a ferocious pace between the room and online, with one of the active parties sipping a coffee in a café on the Champs Élysées.

Another interested party, working hard in Sydney, Australia, wanted to invest some money in Ireland in anticipation of coming home.

The eventual buyer is a native of Portarlington and is based in Dubai.

The reserve was €85,000 on the day and the owner was thrilled with the eventual selling price of €110,000 which was 25 per cent over the initial reserve.

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