Farm Ireland

Thursday 27 October 2016

Meath farm goes for over €12,500 an acre

Jim O'Brien

Published 04/05/2016 | 02:30

The residential farm and land at Piercetown in Co Meath which sold last week.
The residential farm and land at Piercetown in Co Meath which sold last week.

A 94ac residential farm (pictured) at Piercetown, Fordstown in Co Meath sold at auction last week for €1.45m surpassing its guide by €350,000. Valuing the house at €270,000 the per acre sale price of the land stands at €12,550.

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Located 3km from Kells just off the R164 Athboy road the farm has plenty of road frontage on to a side road and on to the main road. The land is laid out in a series of sizeable grass fields divided with whitethorn hedging. In the main the ground is elevated and naturally draining with water to every paddock and some fine stands of beech trees near the dwelling.

The residence, built in 1999, is a substantial four-bedroom bungalow accessed from a separate entrance through electric gates.

The accommodation includes an entrance hall, two reception rooms, a sunroom, a kitchen, four bedrooms, an ensuite bathroom, a family bathroom and a guest WC. The attic space is converted for walk-in storage and a games room. A car garage is located adjacent to the house.

The yard facilities include a six-bay slatted shed with accommodation for up to 100 animals. Adjoining the slatted shed is a silage pit and next to that an enclosed three-column haybarn.

Also included in the yard is a modern two-bay machinery shed, a traditional stone barn with a cattle crush and pen and an old stone dwelling house with storage on two floors. There is also a stainless steel meal silo and a diesel tank.

At auction auctioneer Raymond Potterton initially offered the farm for sale in lots with the yard and a 93ac parcel of land forming the first lot. This attracted two bidders when it opened at €750,000 and was bid to €780,000 before it was held.

The second lot, the house on 1ac opened at €250,000 and, driven by two bidders, went to €270,000 before it too was withdrawn.

The entire was then offered and the auction took off 'like fireworks' according to Stephen Barry of Pottertons. It opened at €1.06m and in the course of the sale attracted four bidders.

At €1.375m the auctioneer consulted the vendors and the property was put on the market at that.

Three bidders remained in contention until the hammer fell at €1.45m and the farm sold to a businessman with farming interests. The auction concluded with a hearty round of applause.

Trim sale

At the same auction a 44ac parcel of tillage ground at Kiltoome on the outskirts of Trim sold under the hammer for €455,000 making €10,340/ac.

Set in a quiet cul-de-sac the farm is in two large divisions that rise away from the road and are planted ditch-to-ditch with a crop of winter barley. The parcel, which has no independent source of water, is surrounded by mature boundaries with hardly any waste.

At auction bidding opened at €380,000 and with two bidders in action the price rose swiftly in tranches of €10,000 to €420,000 and then in increments of €5,000 to €440,000.

At €450,000 the place was put on the market and sold for €455,000 to an agricultural advisor acting in trust.

Indo Farming