Clonmel land sells for €740,000, or €18,500 per acre, at Tipperary auction

Despite some commentary that Tipperary land sales have stalled, Pat Quirke from PF Quirke & Company in Clonmel bucked the trend today with a sale of 40 acres at Ballyvaughan, Powerstown, Clonmel achieving a price under the hammer of €740,000, equating to €18,500 per acre.

The lands in sale are equally divided between tillage and grass, containing two fields of 20 acres each,  approximately 3 kilometres from Clonmel.

They are of good quality and their elevation gives great views in all directions. The only blemish is the presence of high-voltage electricity pylons connecting to a nearby sub-station.

Pat Quirke offered the property in three lots – the tillage field first, the grass field second and then the entire.

While there were no bids for the individual lots, bidding opened at €400,000 for the entire. There were a number of breaks as discussions were held with the vendors with the property finally being placed on the market when bidding reached €550,000.

From start to finish a total of 61 bids were required until the hammer finally fell at €740,000. The purchaser and underbidders are local land owners.

Mr Quirke comments that  while the land market nationwide seems to be stalling somewhat, for the right parcel in the right location (ie Tipperary!) there are always a number of buyers which will ensure a good price.

The vendors were the reps of Roberta Malcolmson, deceased. The solicitor with carriage of sale was Helen O’Brien of Bowe, O Brien in Waterford.