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04 Dec 2021

AUCTION WATCH: 32 acres of Offaly farmland fetches huge sum at auction

32 acres of Offaly farmland fetches huge sum at auction

A satellite photo of the lands near Geashill

A WHOPPING €300,000 was made for 32 acres at Geashill when it came to auction last week.

Auctioneer Matt Dunne held the auction in The Heritage Hotel, Killenard on October 12th.

A good crowd attended the auction and it was conducted in traditional style by Matt Dunne with no live internet platform.

“I knew all the interested parties would be local, so what was the point in introducing the technology,” said Matt with a grin.

The bidding opened at €250,000 and rose in €5,000 increments, at €270,000 Matt left the room to take instructions, but no “white smoke” was forthcoming from the vendors.

With new endeavours the bidding quickly rose to €300,000 at which time it was declared on the market, with no further bids.

The vendors were the reps of the late Melvie O’Rourke and the buyer was a Dublin man who had already purchased a farm in the area. All parties were happy with the outcome.

Some of the land was low lying and prone to flooding whilst the remainder was all good arable land. The price averaged out at €9,400 per acre.

The solicitor on the day was Patrick Fox, Hoey & Denning, Tullamore.

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