€8,250/ac compact site sells
Published 31/10/2012 | 06:00
A compact, traditional 48ac residential farm at Four Mile House in Co Roscommon sold in a number of lots for €396,000 or €8,250/ac recently.
The farm is laid out in five divisions in grass with generous road frontage. The residence is a three-bedroom bungalow in need of refurbishment and the farmyard consists of a three-bay hayshed, a lean-to and a slurry tank.
The property sold in two lots. Auctioneer John V Farrelly of DNG Royal County opened the bidding with Lot 1, a 3.37ac field with 83m of road frontage. This failed to sell at auction, but sold afterwards for €31,000.
The rest of the property went as just one lot -- the house, outbuildings and lands extending to 44.5ac.
Proceedings opened at €300,000 and, with three bidders in the chase, the property went on the market at €345,000. Two bidders stayed with the action and followed it to €365,000, where it sold under the hammer to a local farmer.
The old Convent of Mercy at New Inn, between Cashel and Clonmel in Co Tipperary sold under the hammer in two lots at auction for a total of €307,000.
A local businessman bought the convent on 1.8ac for €112,000 while a local farmer bought the land, extending to 22.7ac, for €195,000.
According to Brian Farrell of auctioneers Brophy Farrell, the 21-bedroom building is in great condition with no signs of dereliction and is set on mature gardens with access to a number of outbuildings.
The farmland is described as excellent quality free draining ground and is under a mixture of tillage and grass. It has substantial road frontage onto the old N8 Cork-Dublin road, which has been superceded by the newer M8 motorway.
The land was bought by a neighbouring farmer for €195,000.