Agricultural land at Capoley, Portlaoise, recently sold for €25,000 per acre at an online auction hosted by Hennessy Auctioneers.
A total of 17.4 acres at Capoley was offered for sale and was guided at €280,000 before the auction.
It opened at €170,000 at the auction but with six active bidders and frantic early bidding, it stood at €360,000 after the first round.
After rounds 2 and 3 of the bidding the property stood at €380,000 and at this stage it was put on the market
Four different bidders fought it out and the hammer finally fell at €435,000 (€25,000/acre) to a local farmer, an impressive €155,000 above the guide price.
Auctioneer John Hennessy noted that: “This premium price is a reflection on the quality of the land sold but also the location of the property close to Portlaoise town.”
Separately, on the same day and for the same seller, 12.6 acres of land at Cashel, Ballyroan, was also put up for auction.
There were four registered bidders for this property with the land opening at €100,000. By the end of the first round of bidding it stood at €140,000 with bids coming from three different bidders.
This land didn’t move as quick as the Capoley lands and after three further rounds of bidding the property stood at €180,000 and at this stage it was put on the market.
Two bidders fought it out and the hammer finally fell at €184,000 (€14,600/acre) to a local farmer, €4,000 above the guide price.
“Overall a good result for the vendor with a combined total of €619,000 being achieved for 30 acres or almost €21,000 per acre,” said John Hennessy.
SEE ALSO – Property: 40 acres of land in Rosenallis to be sold by online auction by Hennessy Auctioneers
