Tuesday 16 October 2012
Farm values very firm
The stagnant nature of the residential market is also hitting sales of residential farms.
The auction of a 40ac residential farm at Summerhill, Gorraun, Roscrea, Co Tipperary is typical of what is happening; the property, which came with a guide of €500,000, was withdrawn from auction at €400,000 and is under negotiation.
Owned by a part-time farmer, the holding has benefitted from considerable investment in recent years.
It comprises a refurbished, three-bedroom farmhouse, a modern farmyard that includes a shed with slats and cubicles, a cattle holding pen and crush, along with two stables and a range of stone outbuildings.
The sale was well attended and opened at €300,000.
With two bidders showing interest, the price climbed to €380,000.
After a further €20,000 was bid, the property was withdrawn at €400,000.
Mr Browne is in negotiation with the highest bidder and the land is now for sale by private treaty.
- Jim O'Brien
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