A house and approximately 11.3 acres at Lisheen, Glenamaddy, sold for €305,000 at a recent public auction.
Auctioneer, valuer and estate agent Gerry Coffey conducted the sale at Divilly’s Bar, Glenamaddy, and through the LSL online platform. The Lisheen property formed part of the estate of the late Nellie Keaveney.
Mr Coffey welcomed those present before Mary Keogh of Bruen Glynn Solicitors, Tuam, solicitor with carriage of sale, read the auction terms and conditions.
The holding was initially offered in separate lots. The house on a site of about 0.6 acres was bid to €100,000. Lot 2, comprising approximately 11.3 acres of good-quality land with a hayshed and old-style farm buildings, opened at €60,000. Four active bidders — three local farmers and an accountant acting in trust — drove that lot to €138,000.
Auctioneer, valuer and estate agent Gerry Coffey.
Mr Coffey then offered the entire holding as one lot, seeking bids above the combined reached for the separate lots. A further 18 bids from local buyers, a bidder believed to be from County Leitrim and online participants pushed the price to €285,000.
The auctioneer revisited the individual lots, but although several more bids were received, their combined value remained below the offer for the entire holding. After consulting the estate’s executors, he declared the full property on the market. Further bidding followed before the house and lands sold to a local farmer for €305,000.
Mr Coffey described the final figure as “a great result all round” and said the sale showed that good-quality land would always attract buyers.
The final offering of the day, Lot 4, comprised 4.94 acres of good-quality land at Leitra, Glenamaddy. It opened at €40,000 and bidding between a local farmer and an online participant brought it to €60,000.
Following consultation with the executors, the property was placed on the market and, with no further bids, sold under the hammer to a local farmer for €60,000.
According to Mr Coffey, the auction produced record prices for the area and the region. He thanked attendees and online bidders, wished the successful purchasers well, and acknowledged the executors for instructing him and Ms Keogh for the legal work and preparation of contracts.
He said demand for quality farmland continued to outstrip supply and noted that the majority of the firm’s recent sales had exceeded their guide prices. He also told unsuccessful underbidders that further farmland was available. Coffey Auctioneers is seeking to replenish its property portfolio following a busy summer of sales.
Mr Coffey offers free market appraisals for owners considering selling a house or property. He can be contacted on 094 9643600 or 086 3856050, or at the firm’s office on Main Street, Williamstown.
