Farm Ireland

Sunday 22 January 2017

Tillage and forestry holding goes for over €1m

Published 30/09/2015 | 02:30

A 154ac tillage and forestry farm at Rath, Streete, Co Westmeath was sold both prior to and during an auction held by Paul Murtagh of Murtagh Bros, Mullingar, writes Jim O'Brien.

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Prior to the auction the 17ac of forestry on the farm sold for an undisclosed sum. The remaining 137ac, which is currently in tillage and includes a semi-derelict farmhouse and dated farm buildings, opened at €600,000.

With up to five different bidders in action it increased in increments of €20,000, €10,000 and €5,000 respectively until it reached €950,000 when just two bidders remained. The bidding continued to €985,000 at which point the property was put on the market by the auctioneer Paul Murtagh.

Following renewed bidding the hammer fell at €1,010,000 or €7,372/ac.

Galway sale

Meanwhile, Martin Tyrell of Tuam sold a 30ac farm at Gardenfield, Tuam after auction for €230,000 or €7,666/ac.

The property attracted three bidders but was withdrawn at €220,000. It sold soon afterwards to a local farmer for €230,000.

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