Farmers back in market as Roscommon lands sell in lots for €209k
Published 16/11/2010 | 09:47
A 25ac residential holding at Ballintubber, Co Roscommon, was sold for €209,000 at auction recently.
The property, located 10 miles from Roscommon on the main Roscommon to Castlerea road, was the estate of the late William Gaffey and was put before auction in two lots by Cathal O’Brien, of Property Partners Earley.
Lot one was a house on nine acres in the townsland of Rath. The house, a bungalow that has been idle for some time, is in need of total refurbishment, while the nine acres is described as good land.
The 16ac block – lot two – is located in the nearby townsland of Ballycaher and was described by Mr O’Brien as a good hillside parcel of land that would be of interest to local farmers.
When the entire was put to the auction at €140,000, there was no interest and no bids. Mr O’Brien then moved to lot one and bidding opened at €65,000. Four bidders entered the fray and, in increments of €5,000, bidding was brisk and it was knocked down to a Leitrim man for €105,000.
The 16ac section opened at €90,000 with two bidders entering the contest. In increments of €5,000 and €2,000, the bidding proceeded apace and it was sold to a local farmer for €104,000.
Mr O’Brien was delighted with the result and commented that handy bits of land were selling well at the moment.
“There is no doubt that farmers are back in the market. It is now a farmers’ market for land and prices are at a level you will get a return from.