A residential farm sitting on 83-acres just outside Ballyfin, Co. Laois, sold for €320,000 more than its guide price at a public auction, overseen by Jordan Auctioneers, on Friday, May 5th, 2023, last.
An executor sale, the farm had generated “strong interest”, according to Clive Kavanagh, the selling agent, and while coming under the hammer in lots, it was the entire that commanded the strongest interest at the auction in the Midlands Park Hotel in Portlaoise.
The property – which featured on That’s Farming in April – is located off the R423 between Mountmellick (7km) and Ballyfin (4km), can be accessed via two local roads, and is 13km from the M9 at Portlaoise.
The historic Ballyfin Castle is 5 minutes from the property and is one of the most prestigious and exclusive hotel resorts in Ireland, according to the firm.
The entire extends to circa 83-acres (33.68 hectares) of land with a detached residence and has access off two roads.
The entire is currently in grass and stubble with a small section in forestry (c.15 acres).
Lot 1: Residence on c.15.6-acres
This lot comprises a detached bungalow constructed in the 1970s and extending to c.1,323 sq. ft (123 sq.m).
The entire is structurally in “good” condition with a hall, sitting room, kitchen, living room, utility, WC, four bedrooms and one bathroom.
There is an oil-fired central heating and an alarm, while outside, there are several old sheds and a 3-span hay barn with a lean-to.
The land is all “good” quality in five divisions and carried a guide price of €370,000.
Lot 2: Circa 34-acres – Guide price of €305,000
This lot has road frontage and is in 4 divisions, mostly in grass, with two fields in stubble, and there are natural boundaries and hedgerows throughout.
According to the property firm, the entire would be an “ideal” site for constructing a residence, subject to obtaining the necessary planning permission.
Lot 3: Circa 33–acres – Guide price – €225,000
These lands are in stubble with circa 15-acres in forestry, and there is frontage onto the local road, with the entire in 3 divisions.
The forestry, a combination of Sitka & Norway Spruce, is planted over twenty years, and there are no premiums payable.
Bidding for the 83-acres opened at €700,000, with two purchasers battling it out before the hammer fell at a price of €1,220,000, equating to just under €15,000/acre (including the residence).
Speaking following the auction, Kavanagh of the selling agents described the farm as a “compact holding, with great potential for improvement by a new purchaser”.
It is understood the buyer was from the general locality.