Louth farm makes €11,700/ac in 'rapid fire' auction
Published 27/05/2015 | 02:30
FORTUNES have been mixed in the auction rooms of late with a number of sales falling short on the day and others sailing past the post, writes Jim O'Brien.
In one of the better stories from last week a 70ac farm at Dunany, Co Louth sold under the hammer of Robert Ganly of Ganly Walters netting a fine price of €800,000 or over €11,700/ac.
Located 11km from Dunleer and 19km from Drogheda, the holding is described by Celia Lamb of Ganly Walters as an excellent farm of land, well laid out, in one block, with road frontage onto two roads. While currently in tillage the ground can be described as double-crop land with free-draining soil.
At a rapid fire auction, that lasted all of five minutes, three bidders declared their hands when the property opened at €550,000. It moved quickly to €600,000 and in bids of €20,000 it continued to rise to €700,000.
Increments of €10,000 saw the amount on offer reach €800,000 and at that stage the auctioneer consulted with the vendors.
It was agreed to put the property on the market and it sold at €800,000 to a farmer from the general locality who intends to farm the land.
Moving southwest, an 80ac portion of a 92ac roadside residential farm at Courtbrown, Askeaton, Co Limerick was withdrawn after an opening offer of €500,000.
The remaining 12ac parcel failed to attract a bid. According to Tom Crosse of GVM, active negotiations are under way on the 80ac.
The farm, which is the subject of an executor sale, is located not far from the River Shannon.
Made up of decent grazing ground that is in good heart and well maintained, the holding overlooks the Shannon Estuary in an area of quality ground renowned for dairying and beef.
The farm includes a dormer style farmhouse that is somewhat dated, but in good repair.
Outside there is a good farmyard that includes a haybarn, silage slabs and a range of useful sheds.
Tom Crosse is hopeful of a closure on the sale but the price on offer is quite shy of the €8,000 to €9,000 guide.
Meanwhile in Co Meath, Willie Coonan withdrew an 86ac farm after some lively bidding and the property is now under active negotiation at €960,000.
Located at Bedfanstown, Drumree, Co Meath the holding is situated on the Batterstown to Trim road, just southwest of Dunshaughlin and comes with extensive road frontage on to two roads.
The lands are all in grass and in eight manageable divisions with mature hedging on all boundaries and water from a private well.
On the auction day three bidders showed interest after the sale opened at €800,000. The price on offer increased in increments of €20,000 until it reached €960,000.
The property was withdrawn from auction at that point and, according to Phillip Byrne of REA Coonans, negotiations are continuing.