Westmeath farm sells for €5,600/ac
A 34ac farm at Cummerstown, Collinstown, Co Westmeath sold after auction last week and is believed to have made in excess of €185,000 or around €5,600/ac.
The lands were described by Padraic Murtagh of James L Murtagh as made up of mainly good-quality ground laid out in a number of neat divisions with plenty of road frontage given that the place is divided by a public road. A small farmyard with the holding includes a slatted shed and a range of useful farm buildings and cattle handling facilities.
At auction the property was offered in three lots and as an entire. The first lot consisted of 4.7ac and included farm outbuildings. Bidding opened at €40,000 and increased in increments of €1,000 before it was withdrawn at €56,000.
The second lot made up of 18ac initially attracted no bids, but eventually opened at €40,000 and moved up slowly in increments of €1,000 until it reached €48,000 at which point it was withdrawn.
The final lot made up of 10.5ac opened at €45,000 and it too went up in increments of €1,000 before it was withdrawn at €67,000.
The entire was offered but attracted no bids, before the three lots were withdrawn and negotiations ensued with the three separate bidders.
All three lots were sold soon afterwards, with the yards on 4.7ac making in the region of €61,000 or €13,000/ac. The 18ac lot which was withdrawn at €48,000 sold for what the auctioneer called 'a significantly higher sum' while the 10.5ac made around €70,000 or €7,000/ac.
All three purchasers were either from the area or had connections with the area.