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Sunday 4 December 2016

Athboy holding makes 'near enough' to guide

Published 20/04/2010 | 05:00

LATE SALE: After the two lots and then the entire were withdrawn at auction, a deal was done that saw this farm sell for €10,000/ac.
LATE SALE: After the two lots and then the entire were withdrawn at auction, a deal was done that saw this farm sell for €10,000/ac.

A 26.5ac residential holding at Derrylangan, Athboy, was sold in two lots immediately after auction last Tuesday.

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A farmer from outside the local area is understood to have bought the house and yard on 8ac that comprised lot one.

This was withdrawn from auction at €170,000 having opened at €150,000.

Lot two, the remaining 18ac, was bought by a farmer/ professional person. This had been withdrawn from auction at €130,000, pushed by two bidders from an opening bid of €100,000.

Auctioneer Thomas Potterton then tried the entire, which received only one bid, and was withdrawn at €301,000.

Discussions then commenced with the highest bidders for the lots and a deal was concluded for what the auctioneer said was "near enough" to the €400,000 guide.

On the same day, a Co Westmeath farmer outbid two Donegal men for a 21ac parcel of land at Ballinadrimna, Athboy, which sold for €160,000.

It is understood the buyer was acting in trust for a local farmer.

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The land incorporated an old residence and had planning permission for a residence, but this lapsed in 2008.

Mr Potterton said the vendors in both cases were satisfied with the results achieved.

"The prices reflect the new values of agricultural land," he said.

"The land at Ballinadrimna made about €8,000/ac, but land needs to be located nearer to a town to make any more than this."

Irish Independent



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