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55ac forest sold for €1,545/ac

Three Roscommon properties sold under the hammer of John Earley at a busy auction held in the county town last week.

The properties included a 48ac non-residential farm at Fairymount, Castlerea, which sold for €330,000 or €6,875/ac, a second parcel, consisting of 55ac of maturing forestry close to Frenchpark, which was knocked down for €85,000 or €1,545/ac, while 38ac with a derelict house at Loughlynn, Castlerea fetched €91,000 or almost €2,400/ac.

The 48ac farm at Grallagh, Fairymount, Castlerea comes with full planning permission for a three-bedroom bungalow.

The holding enjoys extensive road frontage and includes a farmyard consisting of a six-bay haybarn with lean-to stock accommodation, cattle handling facilities, a storage area, silage slab, mains water supply and fresh water springs.

Four bidders showed cause when Mr Earley opened proceedings at €280,000. After nine bids the farm went on the market at €330,000 and was sold at that price to a Leitrim buyer.

Next up was a 55ac parcel of forestry located near the village of Frenchpark. The roadside plantation consists of 95pc Sitka spruce and 5pc larch in two lots. Lot one, a 9ac plot, was planted 23 years ago. Lot two, a larger parcel of almost 46ac, was planted 30 years ago. The trees are on the point of maturing with a mixture of good quality timber and some weaker product more suitable for woodchip.

This property again attracted four bidders when it opened at €50,000. After eight bids it went on the market and sold at €85,000 to a customer from outside the locality.

The final lot at the sale, a compact 38ac farm of land located close to Loughlynn village at Ballyglass East runs down to the shores of Lough Linn. The farm includes the ruins of derelict residence.

Bidding opened at €50,000 and with three customers declaring interest a total of 24 bids saw the property on the market and sold for €91,000. A local solicitor acting in trust bought the holding. Callaghan Auctioneers, Castlerea were joint agents in the transaction.

According to David Diffley of John Earley Auctioneers quite a few of the under-bidders are now actively looking for similar properties in the area.

Irish Independent