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Saturday 10 December 2016

Commuter belt farm sells for 50pc above its guide price

Jim O'Brien

Published 03/06/2015 | 02:30

The residential holding near Dunshaughlin, Co Meath sold for approximately €14,300 per acre
The residential holding near Dunshaughlin, Co Meath sold for approximately €14,300 per acre

The price of land around Dunshaughlin in Co Meath has been creeping ahead of expectations and last week a 38ac farm at Derrockstown, Dunshaughlin surpassed its guide of €500,000 by almost 50pc netting €722,000.

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Located on a quiet country road just off the N3, the farm is 3km on the Dublin side of Dunshaughlin, 3km from Batterstown and a five-minute commute to the M3 and Pace Railway Station.

Padraig Sherry of Sherry FitzGerald Sherry describes the ground as top quality farmland with 445m of road frontage and three independent access points.

The holding is laid out in two large divisions of pasture, with two separate farm entrances and includes a yard with a three-span hay barn, two modern large sheds and a range of useful outhouses.

The bungalow residence with the farm is in need of total refurbishment or replacement, subject to planning permission.

On the day of auction proceedings opened when Padraig Sherry accepted a bid of €450,000. With two bidders showing form the farm was bid to €525,000 at which point the auctioneer consulted with the vendors.

After the consultation the pair of original bidders bowed out but their places were taken by two new bidders.

The keen newcomers took the price to €722,000 where the hammer fell and the property was bought by a local farming family.

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Mr Sherry was delighted with the auction and the price. In analysing the outcome, he said that excluding the house the property possibly made about €14,300/ac.

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