Farm Ireland
Independent.ie

Tuesday 30 May 2017

'Peach of a farm' with four beds and 48ac for €442k

Residential midlands farm with abundance of work sheds and potential sells under the hammer

A 48ac residential farm at Mullagh, Coole in Co Westmeath
A 48ac residential farm at Mullagh, Coole in Co Westmeath
Jim O'Brien

Jim O'Brien

A 48-acre residential farm at Mullagh, Coole in Co Westmeath, sold under the hammer last week for €442,000.

Described by Dillon Murtagh of Murtagh Bros auctioneers as "a peach of a farm", the place is located outside Coole Village, 6km from Castlepollard, 14km from Granard, and 25km from Mullingar.

The residence on the holding is a neat four-bedroom bungalow with accommodation that includes a sitting room, kitchen/dining area and a family bathroom.

The house is surrounded by mature and well-tended gardens, while the yard is described as dated it is "as neat and tidy as you will find". The buildings include a haybarn with a lean-to, a number of small storage sheds, a cattle crush and handling facilities, a machinery shed and a range of sheep sheds.

At auction the property was offered in one lot and bidding opened at €300,000. With two keen customers in action, the price on offer quickly rose to €400,000, at which point the place was put on the market. A further €12,000 was added to the price and at €442,000 the hammer fell and a local landowner won the day.

Postponed

Two other farm auctions due to be held by Murtagh Bros had to be postponed due to last-minute, insurmountable difficulties. These auctions included a sale that was due to take place last Friday and involved the disposal of a 68ac non-residential farm at Moatfarrell, Edgeworthstown in Co Longford.

Laid out in one block, the farm has extensive road frontage and was well known in the local area as a fattening farm. In good heart, the holding has good fencing and decent cattle-handling facilities.

The place can be sold in one or two lots and is guided at €350,000. Dillon Murtagh expects the auction to be rearranged in a number of weeks.

The auction of an 110ac farm at Ardandra, Legan in Co Longford, due to be sold next Friday, was also postponed, but this sale too is expected to happen in the next number of weeks.Legan on the Longford Westmeath border is 20km from Longford town and 25km from Mullingar.

The house on the holding has not been lived in and the farm has not farmed actively for a number of years, so consequently the place needs a lot of attention.

With substantial road frontage the farm is in two large sections, with 68.5ac of grassland on one side of the road and 42ac of coniferous forestry on the other. This latter generates about €15,000 in annual premiums.

The grassland needs a combination of measures to bring it back to full potential from fertilising to reseeding while the fences and infrastructure need tidying.

The house is a two-storey farmhouse in need of complete refurbishment. The accommodation includes three bedrooms, a kitchen and reception rooms. There is a range of buildings on the farm, all in need of major attention and some on the brink of dereliction.

The holding is not without promise and potential, in the right hands it has the makings of a fine residential farm. The sale is guided by Murtagh Bros at €400,000.

Indo Farming