Farming

| 11.6°C Dublin

14ac parcel makes €119k

A 14ac non-residential farm in Derrynagarragh, Collinstown, Co Westmeath, was sold at auction last week for €119,000.

Auctioneer Paul Murtagh said there was great interest in the property in advance of the auction and 30-40 people showed up for the sale.

Proceedings opened with a bid of €40,000 and, with three main bidders in action, matters moved swiftly as the price went up in increments of €5,000. The property was placed on the market at €115,000 and bidding continued in €1,000 increments until the hammer came down at €119,000. The holding was sold to a local farmer.

• A roadside farm extending to 109ac at Rooske, Edenderry, Co Offaly, was withdrawn from auction last week after reaching €780,000. The guide price for the sale was €900,000.

Located 1.5 miles from Edenderry, near the village of Castlejordan on the Offaly/ Meath/Kildare border, the land was originally part of a 239ac farm owned by the Mulvin family. The 109ac was being sold without buildings, aside from a derelict cottage.

The ground is all in grass, bounded by the River Boyne and laid out in 11 fields.

According to auctioneer Donal Byrne, of Eugene Byrne and Sons, Edenderry, the land is good quality, some of which could do with drainage.

A huge crowd showed up for the auction at the Oakwood Inn, Edenderry, and when the property opened at €500,000 there were three lively bidders showing interest.

In a series of 22 bids, the price reached €780,000, at which point it was withdrawn. Immediately after auction the price reached €800,000 but as it failed to reach its reserve the farm was put on sale by private treaty at a guide of €900,000.

Mr Donal Byrne reports that that there have been several enquiries since the auction.

Indo Farming