Dublin farmland sale sets a benchmark
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.
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.