Business Farming

Friday 30 September 2016

End of season flurry of sales across Leinster

Jim O'Brien

Published 04/11/2015 | 02:30

The auction rooms are busy as we move into what is rather sadly called 'the back end of the year.' Good prices are being achieved and there seems to be a slight rise in the overall per acre average being paid for farmland.

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A 125ac non-residential farm at Rathsallagh and Oldcourt between Dunlavin and Grangecon surpassed its guide price of €850,000 and recently made €930,000 under the hammer of Newbridge auctioneer Paddy Jordan.

Located adjacent to Rathsallagh Hotel the farm is laid out in one block and is in a mixture of tillage and grass with fine stands of trees and a plantation shelterbelt. The ground is comprised of self-draining gravelly soil on mainly elevated ground and the entire farm is serviced by a hardcore roadway.

At auction the property opened at €650,000 and with three strong bidders in the frame the place went on the market at €850,000 and sold for €930,000 or just under €7,500/ac. The buyer was a solicitor believed to be acting for an overseas buyer with local connections.

Athboy sale

A 107ac residential farm near Athboy sold as an entire at auction for €730,000, over €6,800/ac.

The farm is located at Grennanstown 4.7km from Athboy and 17km from Kells. The sale included a four bedroom bungalow in need of refurbishment and an extensive range of farm buildings.

The land is a tale of two halves with 53ac in relatively good heart but in need of reseeding while a 52ac parcel, according to selling agents Robert Nixon, needs "the attentions of a digger."

The land has extensive road frontage and a older yard with some stone outbuildings.

At auction Mr Nixon opened proceedings looking for bids on the 53ac parcel and the farmyard. This opened at €300,000 and moved up to €330,000 before it was held. The second lot of 52ac of the poorer land opened at €200,000 and was bid to €230,000 before it too was held. The bungalow on 2ac was bid to €80,000.

With €640,000 on board Mr Nixon turned his attention to the entire and this opened at €640,000 and while two bidders took it to €700,000 a new bidder brought it to €730,000. The entire was held at that and the auctioneer went back to the lots but their total increased by just €40,000 to €680,000.

The entire was put on the market at €730,000 and was bought at that by an agent acting for a man from Manorhamilton.

Maynooth sells after auction

A parcel of 49.4ac of land at Laragh, Maynooth was withdrawn from auction during the week at €570,000 and sold immediately afterwards for a price described by auctioneer Willie Coonan as representing over €12,000/ac.

Located 4km from Maynooth, 3km from Kilcock and 30km from Dublin the ground is situated along the M4 motorway. The holding is described as a prime grassland farm with tremendous road frontage extending to 250m.

At auction the parcel attracted four bidders when it opened at €300,000, when it got to €550,000 two bidders remained and Mr Coonan consulted with the vendors.

It was agreed he would seek further offers. On returning to the auction room Mr Coonan managed to get another €20,000 added to the amount on offer but the property was withdrawn at that price of €570,000. It sold immediately after the auction to the highest bidder, a local farmer.

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