Farm Ireland

Sunday 17 December 2017

€13,232/ac paid by local farmer for Enfield lands

It was smiles all around when 49.55ac of land at Enfield, Co Meath, sold under the hammer last week for €655,000 or €13,232/ac. The property came in 45pc ahead of its guide of €450,000.

This auction was being closely watched and was viewed as a potential indicator of land prices in Meath/Kildare for this year.

Located on the edge of the village of Enfield, between the motorway and the relief road opposite the Johnstown House Hotel, the land is set in one block and divided into a number of large fields.

It was described as good quality ground suitable for all types of farming. The holding also came with extensive road frontage on to two roads. The sale took place on the instructions of the receiver Martin Kelly of Doyle Kelly & Co.

A full auction room at the Johnstown House Hotel saw auctioneer Robert Ganly of Knight Frank open the bidding at €300,000.

Four bidders showed interest and in bids of €20,000 and €10,000 the price on offer soon came to €510,000, at which point the property went on the market.

Bidding continued with three bidders and then two bidders until, after 31 bids, it was knocked down to a local farmer at €655,000.

Celia Lamb of Knight Frank was delighted with the sale. "It is a very positive indication that land prices are strengthening and it is great to see farmers back in the market and to see farmland back in farmers' hands," she said.

Also Read

According to Robert Ganly, the sale shows the underlying strength of the agricultural market for well-located land.

Jim O'Brien

Indo Farming