e925k farm sale 'shows there is interest in land'
Published 26/07/2011 | 05:00
A Co Meath farm that failed to attract a buyer three years ago was sold last Tuesday for €225,000 over the guide price.
The remarkable turnaround appeared to defy the economic recession.
The 108ac roadside farm at Derrypatrick, Summerhill, Co Meath, is located adjacent to Teagasc's beef unit at Grange and shares the name with the country's foremost suckler research herd.
While the property failed to sell three years ago, there was no shortage of customers this time around.
The holding was described as prime fattening land when it went under the hammer.
It is located three miles from Summerhill, 10 miles from Dunboyne and 17 miles from Dublin.
Auctioneer Jimmy Murtagh said the land was laid out in one division with no internal fences and could be further improved by any potential buyer.
It had a pre-auction guide price of €700,000.