Westmeath sale takes unusual twist in the shape of 36 acres
Published 15/07/2015 | 02:30
An interesting day was had at a midlands auction during the week after a neighbouring farmer stumped up an additional plot of land with road frontage to help boost a sale.
The auction staged by Murtagh Bros Mullingar started well when a non-residential farm extending to 91.5ac at Loughnavalley sold at auction for €677,500 or over €7,400/ac.
However, the interesting addition emerged after an 118ac residential farm near Moyvore did poorly at auction and was withdrawn.
In a novel development after the auction, an adjoining farmer offered to add a 36ac parcel to the property, with the result that the holding is back on the market as a 154ac unit.
The property in question, Kilgawny House, is a residential farm at Moyvore near the Westmeath border with Longford's Ballymahon.
The farm is located about 16km from Mullingar off the Ballymahon road.
The residence, a traditional farmhouse about 100 years old, is currently occupied and in lovely condition throughout.
The accommodation includes a living room, sitting room, three bedrooms, a kitchen and a bathroom.
The outbuildings are of the traditional kind with no modern farm facilities, while there is a large garden area around the house.
The farm is approached by its own avenue with some fine stands of trees at either side.
The 118ac is divided between 87ac of grassland and 31ac of forestry, with the grassland described by Paul Murtagh as old pasture laid out in a number of large fields.
One of the drawbacks of the property is an absence of road frontage, a fact that may have had impacted on the sale. At auction the place attracted one bid of €450,000, well short of its guide of €700,000.
After the auction Mr Murtagh was approached by the vendor and an adjoining farmer who was willing to add 36ac of his land to the holding with the suggestion that the entire be repackaged and offered as a 154ac residential farm.
The additional 36ac parcel comes with substantial road frontage and this might loosen the purse strings of potential customers.
The 154ac holding is on the market with a guide price of €7,000/ac
The more straightforward transaction saw a 91.5ac non-residential farm at Togherstown, Loughnavalley, Co Westmeath sold under the hammer for €677,500.
The farm is situated less than a kilometre from Loughnavalley village and 12km from Mullingar on the R390 Mullingar to Athlone road.
It comes with a fine farmyard comprised of a hay barn, a slatted house, a silage slab, a cattle crush and other stock handling facilities. The yard also includes an old derelict farmhouse.
The farm has good road frontage on the R390 and is approached by an elegant stone and wrought iron entrance.
The lands are all in grass and described by Mr Murtagh as "real good land".
It had been intended to offer the property in three lots but as the auction progressed on the day the entire attracted all the interest.
Proceedings opened with a bid of €400,000 and with four bidders in the field from counties as far away as Wicklow and Leitrim and as close as Longford the price rose swiftly until the holding went on the market at €600,000.
At that point a new customer entered the fray but one of the original bidders, the Longford man, held his nerve and won the day buying the place for €677,500.
Staying in Westmeath a 45ac farm at Collinstown, sold under the hammer of Castlepollard auctioneers Davitt and Davitt last week making €390,000.
The property is described as prime finishing land all in permanent pasture. It is made up of a 39ac meadow and a further 6ac of grazing ground.
At auction Aidan Davitt opened proceedings as he accepted a bid of €270,000. With two bidders vying for the property the price rose quickly and the place went on the market at €310,000.
It was bought by an accountant from Mullingar for €390,000 delivering over €8,600/ac, a strong price for land in that area.