Farm Ireland
Independent.ie

Thursday 30 March 2017

Meath farm hits s1m sale target

A figure of €1,050,000 was paid at auction last week for a 105ac farm at Kiltale, Dunsany, Co Meath.

Pat O'Hagan, of selling agents Savills, said the property made its guide of €10,000/ac when it was knocked down to a farmer from the general locality.

The non-residential holding is all in grass and laid out in a number of big fields.

It is well fenced by a mixture of natural hedgerows along with post and rail fencing and, aside from one small square of wet ground, the land is well drained and dry.

It comes with extensive road frontage on to two roads and limited road frontage on to a third.

A crowd of about 40 people, mainly farmers, turned up for the auction at the Station House Hotel, Kilmessan, on Wednesday, September 14.

Mr O'Hagan initially offered the property in lots. Lot one consisting of 62.456ac, lot two consisting of 42.562 and lot three, the entire, consisting of 105.018ac.

The 62.456ac lot opened with one bid €450,000 and moved no further. Lot 2, the 42.562ac section, opened at €300,000 and with two bidders in contention went to €335,000 in tranches of €5,000 and €10,000.


At that point the entire was put to auction and bids were sought in excess of the sum on offer for lots 1 and 2 which came to €785,000.

Bidding continued until the offers reached €905,000 and at that point the auctioneer consulted with the vendor who instructed him to seek further bids. On resumption a total of 10 bids brought the price to €955,000, at which point it was agreed to put the property on the market.

It took a further 17 bids to add €50,000 to the market price until the hammer came down at €1,050,000.

Mr O'Hagan described it as an excellent auction.

Meanwhile, he has advised the Farming Independent that the public auction of 43ac at Belper, Dunsany, Co Meath, which is due to be held at the Station House, Kilmessan tomorrow, Wednesday, September 21, has been cancelled.

Jim O'Brien

Indo Farming