Farm Ireland
Independent.ie

Sunday 25 June 2017

Hopes still high for Dublin farm

Jim O'Brien

Jim O'Brien

The auction of a 105ac farm at Hayestown, Balbriggan drew a big crowd and lots of interest but it failed to sell at auction at the Citynorth Hotel, Gormanston, Co Meath.

The farm was withdrawn at €1m and, according to auctioneer Evan Lonergan of selling agents HT Meagher O'Reilly, active negotiations are ongoing.

Known as College Farm, the holding is located in tillage country in the townland of Hayestown, about 4km west of Balbriggan. The lands are laid out in one block with road frontage of 1.4km onto three separate roads. The holding also includes a traditional farm yard comprising a wide range of large sheds together with some stone outhouses.

The lands were offered in three lots; lot one comprised 48ac and the farmyard, lot two was made up of 57ac while lot three comprised the entire.

The auction opened when the entire was offered at €800,000. Two parties took to the bidding and in increments of €50,000 the price on offer came to €1m. The auctioneer consulted the vendor and withdrew the property, as the offer of €9,500/ac was well off the guide of €10,000 to €12,000/ac.

Negotiations were entered into with the highest bidder and an offer was made, which auctioneer Evan Lonergan described as 'a good bit higher'. However, the vendor would not sell and the property is now to be sold by private treaty.

Interest

According to Mr Lonergan, while he had hoped to sell under the hammer, there has been a lot of private interest since the auction and quite a number of clients are actively pursuing the farm.

"I was a bit disappointed," admitted Mr Lonergan.

"Even a month ago I think we'd have made the guide price.

"However, there is real interest in this farm and I think we will get the upper end of the guide price of €10,000 to €12,000/ac."

Irish Independent