LAND AT €16,000 AN ACRE AT mATT dUNNE'S AUCTION

LAND AT €16,000 AN ACRE AT mATT dUNNE'S AUCTION
Express Reporter

The Bridge House Hotel Tullamore on Tuesday last was the venue for Matt Dunne and Associates RICS SCSI most recent multi auction sale.

A large crowd turned up and eagerly waited to see how proceedings would unfold, and they weren’t disappointed!

First up was a compact 26.5 acre farm at Lackamore, Killeigh, Tullamore, (which coincidentally is just inside the Laois border).

The farm was offered for sale in three lots.

Lot 1 comprised of 9.82 acres of good elevated agricultural land.

After numerous attempts by the Auctioneer this was bid up to €190,000 or €19,000 per acre.

Lot 2 comprised of 13.88 acres was bid to €160,000 or €11,500 per acre.

Lot 3 comprises of a derelict house on 2.76 acres, maximum bid €66,000.

The accumulative sum from the three individual lots came to €416,000.

Undoubtedly everyone expected the land would then be sold in lots.

Matt Dunne then put the entire 26.5 acres to the floor and was surprised to find two active bidders for the entire and a local adjoining farmer eventually won the day at €420,000 or c. €16,000 per acre.

A remarkable result by anyone’s standards. The Vendors who hail from near Carlow were delighted with the outcome and only wish they had more land for sale in the area.

Next up on behalf of Ferris and Associates was the Central Garage Mountmellick Limited (In Voluntary Liquidation).

Modern 540m 2 commercial premises plus large yard with rear access situated on Wolfe Tone Street, Mountmellick.

High profile premises with a multiplicity of uses. Disclosed reserve €90,000, sold on the day to a local business man for €94,000.

The Receivers were happy with the outcome.

Lot 3 comprised of 0.45 acre development site Main Street, Daingean.

Strategically located in the centre of this quiet country village but oozing with potential for anyone with the right idea. Disclosed reserve €25,000, sold €45,000 to a Developer from Carlow.

Lot 4 comprised of 48 acres at Ard, Geashill, Tullamore which was withdrawn before the auction by the Vendors due to a title problem.

The land is currently for sale by Private Treaty and the level of interest according to Matt Dunne, should generate a sale in the not too distant future.

Statistically Matt Dunne sells 98% of everything that he puts to auction so if you have an asset that you would like to ‘cash-in’ within four weeks why not put it in our next auction on September 14. Email:info@mattdunne.ie phone 057 86 23349