Royal riches as Meath package makes €1.4m
Published 14/09/2010 | 10:28
THESE days it is rare to see land realise a seven figure sum. Those amounts were more to be expected in the late, lamented boom period.
However, land in the Royal County continues to command royal prices even in the teeth of a deep recession. When 110ac of prime lands at Greenogue, Kilsallaghan went for auction at the Coolquay Inn, The Ward last Wednesday there was no shortage of interest.
According to Pat O'Hagan of selling agents Savills the land is of excellent quality in a great location between the Ashbourne to Finglas and Ashbourne to Swords roads, just off the old N2.
A crowd of about 35 turned up for the sale and when bidding opened at €900,000 three parties entered the fray. The bidding went up in amounts of €50,000 and when it reached €1,050,000 Mr O'Hagan put the property on the market.
Bidding continued and when the amount on offer came to €1.3m the auctioneer took instruction, bidding resumed and the property sold for €1.4m.
A very happy Pat O'Hagan said the vendor was delighted with the sale. “We were guiding the property at €12,000 per acre and it made about €12,700. All those bidding for the property were local farmers and the vendor was especially happy when the purchaser turned out to be a neighbour who will farm the land.”
Pat has more Co Meath land in the pipeline and he told the Farming Independent he expects to have a very attractive 300ac Meath property ready for market in the immediate future. The farm is a non-residential holding.