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Saturday 10 December 2016

'Smashing land' in Westmeath sells for €340k

Published 03/06/2015 | 02:30

A 34ac residential farm at Brownstown near Delvin, Co Westmeath sold as an entire at auction for €340,000 or €10,000/ac. The ground is described by auctioneer Jimmy Murtagh as "smashing land", while the bungalow residence is described as needing "quite a lot of TLC." There are no outbuildings of note.

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At auction Jimmy Murtagh opened proceedings on the entire when he accepted a bid of €150,000. With three bidders in the running, the price on offer moved swiftly to €311,000 when it went on the market. It sold at €340,000 to a local customer.

The same auctioneer handled the sale of a 62ac residential farm at Archerstown, Delvin. Located two miles from Delvin off the Castlepollard road the farm sold in two lots and made a total of €467,000 or over €7,500/ac.

It is described as a super fattening farm that is laid out in five divisions. Well cared for and in good heart, it is ideally suited to beef production and would be an equally good tillage holding.

A two-storey farmhouse on the property is structurally sound but needs upgrading. In terms of outbuildings the yard includes a three-bay haybarn, some stone built sheds and some cattle handling facilities.

A 55ac portion was sold at auction to a buyer from Co Tyrone for €430,000, while a seven-acre parcel sold to a local for €7,000/ac.

In another recent auction Mr Murtagh sold a 42ac farm at Dysart, Mullingar, Co Westmeath for €310,000 or just over €7,300/ac.

Longford

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Over the border in Longford the major part of a 33ac residential farm at Kilcannon near Newtownforbes sold in lots last week for a combined figure of €164,000.

Situated just off the N4 Dublin to Sligo road and close to the River Shannon.

Along with the 33ac of grassland, the sale included a neat three-bedroom cottage in excellent condition and 34ac of turbary rights. The holding also came with a derelict cottage and a series of outbuildings

The transaction was handled by Murtagh Brothers of Mullingar and on the day the three-bedroom cottage on 2ac was retained by the owners and the rest sold under the hammer or immediately afterwards.

The derelict cottage on 2ac made €26,000, while a 4ac parcel also made €26,000.

A larger parcel of 17ac made €68,000, while an 8ac piece was withdrawn at €44,000 and sold immediately afterwards for what is believed to be a higher sum.

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