Building interest pushes lough-side farmland into auction
Map of the 48 acres for sale at Terryglass, Nenagh
Coming up for online auction at 3pm on Thursday, December 7 is a 47.86-acre holding near the scenic village of Terryglass in County Tipperary.
The holding had already been for sale by private treaty, but with interest building in the lakeshore land, the decision was taken to put it up for public auction, as Nenagh-based selling agent REA Eoin Dillon explained.
“With auctions faring well at the moment, we’ve decided to go to auction with an AMV of €375,000 (€7,800/acre)," he said.
Mr Dillon added that he had previously sold some similar land close to this one: a 34-acre holding at Brookfield, Coolbawn, which also had lake-frontage onto Lough Derg, and it sold for a remarkable price of €15,500 per acre, so there is every chance that this larger farm on Lough Derg could well exceed its AMV.
The Coolbawn sale was one of three recent successful land auctions carried out by the agent, the other two being a 100-acre farm at Lisduff, Birr, that made €14,000/ac and a 44-acre farm at Toomevara that achieved €540,000 before being withdrawn and immediately sold to the highest bidder for an undisclosed sum.
How this piece of lakeshore land will fare in December remains to be seen, but its mixture of location and quality should bring some good interest on the day.
