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Moving southwest, an 80ac portion of a 92ac roadside residential farm at Courtbrown, Askeaton, Co Limerick was withdrawn after an opening offer of €500,000.