Ballmymullen House sells for €1.3m

Local auctioneer Joe Coogan dropped the hammer at €1.3m as Ballymullen House and lands, in Abbeyleix, was declared sold.

Local auctioneer Joe Coogan dropped the hammer at €1.3m as Ballymullen House and lands, in Abbeyleix, was declared sold.

The auction took place at the auction rooms of Mr Coogan at Ballycomey House in Castlecomer last Friday.

“Land prices are a major conversation, and in my opinion the good prices presently being paid is because of the elimination of milk quotas in 2015. Ballymullen House on circa 126 acres has no milk quota but a number of intend purchasers intend transferring it to a dairy farm if they became the new owners,” said Mr Coogan.

The property was sold to Martin Crotty, Solicitor, Parliament Street, Kilkenny who was acting on behalf of a farmer.

Bidding for the property started at €500,000 and at €960,000, the property was declared on the market and eventually the hammer came down at €1.3m, considerably more than the expected price.

There was four active bidders at the auction, the under bidder was a businessman from Abbeyleix, while the other bidders dropped out at approximately €1m - one of the two was a dairy farmer from Laois, while the others were from Co. Kildare.