Farm Ireland

Tuesday 12 December 2017

Strong prices for Leinster holdings (up to €13,000ac paid for good arable land)

Jim O'Brien

Jim O'Brien

A strong price of €13,000/ac was paid for 21ac Laois tillage ground at an auction of a farm located at Ballinlough, Stradbally. Local auctioneer Matt Dunne described the land as "Just honest to God good arable land with no gimmicks."

Located in a rich vein of ground close to the Rock of Dunamaise, the land has extensive road frontage and could have residential potential if the proposal can fulfil the local needs requirement.

A fine crowd showed up for the auction which opened with a decent bid of €180,000 or €8,500/ac.

The price on offer quickly rose to €210,000 at which point the property was out on the market.

Bidding continued apace and within minutes the holding was sold to an adjoining farmer for €267,500 or €13,000/ac.

According to Mr Dunne the vendor was delighted with the result and the purchaser equally delighted to have the opportunity to increase his current holding. Three disappointed under bidders are still in the search for land in the area in parcels from 10ac to 100ac.

Meath Sales

Further north in Co Meath Thomas Potterton had a good day out when he sold two properties under the hammer. The first to be sold was a 16.5ac parcel of ground at Dangan, Summerhill in Co Meath that sold for €85,000 or €6,800/ac.

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All in one field the property is located down a partially tarred cul-de-sac. With some lovely stands of trees the land is generally in good heart asides from a lower section that is in need of reclamation.

At auction the bidding opened at €40,000 and with two bidders in action the amount on offer rose in tranches of €5,000 to €85,000 at which point Mr Potterton consulted with the vendor.

It was decided to put the property on the market and it sold at that price to an adjoining landowner.

Mr Potterton was content with the sale and thought the price fairly reflected some of the disadvantages of the property such as the access and the piece of poorer ground.

On the same day Mr Potterton sold a house on 2ac that had been part of a 43ac holding sold last year to a local farmer.

Located at Scurlogstown outside Trim the house was in need of considerable refurbishment when bought. The purchaser decided to invest and turned it into a tasty modern dwelling with some lovely features and a modern extension.

The refurbished residence is on two ares and includes a haggard with a two-column haybarn and a traditional farmyard in courtyard style. There is also a lofted barn, two loose boxes and an original cow byre carefully restored to create space for an outside studio or recreational room. The original property, the house on 43ac, was sold by Thomas Potterton last year for €700,000.

At the recent auction the bidding opened at €300,000 and attracted two active bidders. It rose quickly to €330,000 where it went on the market and was bought by a delighted professional couple working in Dublin and commuting.

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