LOUGHTOWN Stud in Maynooth, Co Kildare, has been sold.

The 171-acre property, formerly owned by Spanish businessman Felipe Hinojosa, was first offered in two separate lots before the entire property was bid to €3 million by one party.

As the guide price was €3.5 million, auctioneer Willie Coonan withdrew the property at this stage but a deal was struck immediately after for “a substantially higher sum”, believed to be in the region of €3.3 million.

Loughtown, which includes 54 stables, was purchased in trust by Dublin-based solicitor James Cahill for a person believed to be involved in the bloodstock industry.

REA Coonan also handled the recent sale of Ballinteskin Stud in Co Wicklow to racehorse owner Luke Comer for €2.53 million – a healthy €21,500/acre.

Willie Coonan told The Irish Field that the stud farm market this season was very promising.

In addition to the two mentioned properties, Coonan was also responsible for the €8.15 million sale of the world famous Ballymacoll Stud in June, as well as four other stud farms.

“We are very happy with the state of the stud farm market. The agricultural market in general has been very good,” he said this week, despite the recent stamp duty hike.

“Two stud farms in one week, with three bidders on one and four on the other, is excellent. We have a few buyers left over if something else comes along!”