Farm Ireland
Independent.ie

Wednesday 7 December 2016

Compact Offaly farm sells for €16,000 an acre

Published 20/07/2016 | 02:30

Midlands auctioneer, Matt Dunne recently sold a compact 26.5ac farm at Lackamore, Killeigh, Tullamore, Co Offaly for €420,000 making a very respectable €16,000/ac.

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The farm was initially offered for sale in three lots with the first a 9.82ac piece of good elevated agricultural land bid up to €190,000 or €19,000/ac.

The second lot of 13.88ac, was bid to €160,000 or €11,500/ac while a derelict house on 2.76ac was bid to €66,000. The total on offer for the three individual lots came to €416,000.

When Matt Dunne put the entire 26.5ac to the floor two bidders showed immediate interest and an adjoining farmer eventually won the day when he paid €420,000 or €16,000/ac for the holding.

On the same day a 48ac farm at Ard, Geashill, Tullamore, Co Offaly was withdrawn before the auction by the vendors due to a title problem. The land is for sale by private treaty.

Cavan farm withdrawn

A 112ac residential farm near Bailieborough in Co Cavan was withdrawn from auction last week after being bid to €675,000.

Located at Togher and Carrickgorman about 5km from Bailieborough the lands are spread out over undulating drumlin countryside typical of border territory. The dwelling is a two storey house of 1,722sqft built in the early 1970's that has been unoccupied for a few years.

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The farmyard has a wide range of sheds both dated and more contemporary and the entitlements with the farm have a current estimated annual value of €14,700 and are included in the sale.

Peter Murtagh was delighted with the crowd that showed up to his auction rooms at Bailieborough for the sale of this well regarded local holding, "A crowd of 35 people, enough to field two football teams and a few substitutes, turned up," said Mr Murtagh.

Bidding opened at €600,000 and slowly increased to €675,000 where it was withdrawn "shy of expectations". Post auction negotiations are active and keen according to the auctioneer and he hopes a sale will be concluded in the near future. "A final deal may see the property broken down into a few smaller lots," he said.

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