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Sunday 19 November 2017

91ac of top Galway land sells for €790k

Jim O'Brien

Jim O'Brien

A 91ac residential farm located in and near the village of Laurencetown, Co Galway was sold under the hammer in three lots last week for €790,000, or almost €8,700/ac.

The main lot comprised 60ac at Redmount Hill on the Eyrecourt road, two miles from Laurencetown village.

The lands are described by auctioneer John Dolan of Ballinasloe as top quality agricultural ground in permanent pasture and well fenced into several paddocks.

This part of the property includes a three-bay hay shed with cattle pen and crush.

Bidding on the 60ac opened at €300,000 and increased in increments of €10,000 until it reached €480,000, where the property was placed on the market and sold at this price.

The second lot offered a house on approximately 27ac adjacent to Laurencetown church. The house is a well-maintained, detached four-bedroom bungalow and, while the lands are not quite as good as the Redmount part of the farm, they have plenty of road frontage.

Bidding on this lot opened at €180,000 and increased in increments of €5,000 until it reached a final price of €240,000, when it was placed on the market and sold for €250,000.

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The final lot was a 3.4ac parcel located across from the dwelling house adjacent to the local parochial house in the village of Laurencetown.

Described by the auctioneer as a very good piece of ground, it has water laid on as well as public street lighting. Bidding on this portion commenced at €30,000 and increased to a final price of €60,000 where it was sold under the hammer.

John Dolan was very happy with the result saying the price paid for the holding was a marked increase on prices paid in the same area last year.

"It underpins the strong demand for agricultural land that is currently out there. This is further aided by easier access to the dairying sector from next year," he said.

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