Tillage and forestry holding goes for over €1m
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.
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.
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The property attracted three bidders but was withdrawn at €220,000.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.