Wednesday 28 September 2016

Dublin farmland sale sets a benchmark

Jim O'Brien

Published 16/03/2016 | 02:30

A benchmark for Dublin farmland prices was set last week when a 54ac farm at Lyons Road, Newcastle, Co Dublin, was sold by Ganly Walters for €850,000 or for almost €15,400/ac.

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Described by the auctioneers as prime land in a great location the property is 4km from the M7, 6km from Celbridge and 4km from Lucan.

Laid out in one block and divided into three fields the holding has almost 400m of road frontage.

About 19 people gathered for the auction at the Ganly Walters auction rooms.

Bidding opened at €450,000 and with two active bidders it moved quickly to €750,000 when the auctioneer adjourned for consultation.

At that point the property was declared on the market and after seven further bids it was knocked down and sold at €830,000 or €15,398/ac.

The property was purchased by DTZ property agents in trust.

Laois farm

Staying in Leinster a 42ac non residential farm at Glenfield near Portlaoise in Co Laois sold under the hammer of local auctioneer John Hennessy last week making €409,000 or over €9,700/ac.

Located 2.5km from Portlaoise and 6.5km from Timahoe the property is 1.5km from Ratheniska, the home of the Ploughing Championships for the last number of years.

John Hennessy describes the farm as a nice parcel of ground mainly in grass with about 10ac of arable ground.

Hoping for a lively auction on the day the auctioneer got plenty of action. He opened the proceeding looking for bids on the plots of 32ac and 10ac and then moved on to the entire.

Three bidders showed interest in all the lots but when the crunch came the entire was making better money so this was put on the market at €390,000.

Bidding continued on the full 42ac farm until the hammer fell at €405,000 and the property was bought by a farmer from the locality.

Indo Farming

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