Monday 17 October 2011

Zoned land sells for €16,000 an acre

The sale of 35ac of industrial zoned lands at Athy, Co Kildare, was probably the first sale of commercially zoned lands at agricultural values.

The property was guided at €15,000/ac and it made an extra €1,000/ac on the day when Jordan Auctioneers last week sold it at auction for €552,000 at the Clanard Hotel, Athy.

The land, which has planning permission for retail warehousing, is located just off the N78 Athy to Kilkenny road adjacent to Minch Norton, Tegral and the Business Campus. The property is only a short distance from Athy town centre and can be accessed via two existing agricultural gateways.

In farming terms the land is described as good ground suitable for tillage or grazing. Laid out in four divisions, it is reasonably well fenced and has a ready water supply.

About 20 people attended the auction and the property opened with an initial bid of €200,000. With three active bidders in contention the price increased in increments of €50,000 until it was put on the market at €535,000. Two final bidders fought to the finish and when the hammer came down at €552,000 the land became the property of a local farmer.

Jim O'Brien
Irish Independent

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