Kildare land sells for 'extraordinary amount' at auction
The holding in Castledermot
A 10-acre lot in Kildare sold well above guide price at a recent auction.
The holding included stables and farm buildings in Castledermot. The land, according to auctioneer David Quinn, was excellent quality, currently in grass, laid out in a single, well-defined division with frontage onto a laneway. The holding could offer site potential, subject to planning permission.
Mr Quinn had described strong interest in the holding from a mix of local farmers and businesspeople.
Mr Quinn added that “rarely does a small holding of this quality come to the market in the area, creating exceptional demand among buyers.”
Mr Quinn had guided the property in the region of €15,000 to €20,000 per acre prior to auction and shared that “eight parties had registered to bid”.
On the day of the auction, bidding commenced at €140,000 and quickly surged to €260,000.
Following a brief pause for client instructions, the auctioneer returned to the room and said it was almost there and bidding continued.
Mr Quinn was moments from breaking once more at €275,000, when a further offer of €280,000 was made and the property was declared “on the market".
After a round of frenzied bidding, the hammer finally fell at €324,000 – an extraordinary result.
Speaking after the auction, Mr Quinn remarked that his client was “extremely pleased with the outcome of the auction”.
He added that “the price achieved equates to over €32,000 per acre, far above typical land values in the area”.
