Over Â¤540k for 88.5ac Cavan farm
Published 13/09/2011 | 05:00
An 88.5ac farm with a derelict house and working farmyard, located at Tirgormly, Belturbet, Co Cavan, was withdrawn from auction last week and sold afterwards for a sum in excess of €540,000.
At the auction in the Farnham Arms Hotel, auctioneer Padraig Smith initially offered the property in three lots of 28ac, 3.5ac and 57ac.
The 28ac lot opened at €130,000 and two bidders followed it to €175,000.
The 3.5ac piece opened at €20,000 and two bidders stayed with it to €32,000, while the 57ac lot opened at €300,000 and two customers brought it to €330,000.
For the entire, Mr Smith then sought bids in excess of the sum of the lots, €537,000.
Following an offer of €500,000, the property was withdrawn and sold afterwards to the bidder in question, for a figure in excess of €540,000.