Local dairy man wins tug of war for Longford holding with Â¤93k bid
A local dairy farmer beat off stiff competition from a businessman and a professional couple for a 10.2ac Longford property recently.
The farm at Cornollen, Longford included a derelict residence and had a prime location just off the N5 at Kilmore Cross, an area that has seen plenty of one-off family homes built in the past decade.
The land is of mixed quality and laid out in three divisions.
It is a five-minute drive to Longford town and to the River Shannon at Tarmonbarry.
The land was described as mainly good quality, but would benefit with some fertilisation and a small amount of drainage.
The local farmer opened the bidding at €40,000 and later closed it with the winning bid of €93,000 after a hard-fought battle with the professional couple who were hoping to build a family home on the land. The third bidder, a businessman dropped out at €60,000.
The auctioneer is now seeking a smallholding in the Longford /Roscommon area for the disappointed underbidder.
Mr Regan, of DNG Regan, said the €93,000 price achieved was well above expectations, but it showed that there was a growing confidence in the land market.