Farm Ireland

Saturday 20 January 2018

Bidders still target withdrawn lots

Jim O'Brien

Jim O'Brien

Several interested parties are still in the hunt for a 313ac farm at Slanestown, Rathfeigh, Co Meath, which was recently withdrawn from auction.

A crowd of up to 80 people turned up at the Snail Box pub in Kilmoon, Ashbourne, to see the farm put to auction in three lots.

The farm is a top-quality holding all in grass and laid out in 22 divisions. It is located just north of Ashbourne, near Kilmoon Cross, on the N2 Dublin/Derry road. The farm is close to Ashbourne, Tara, Ratoath, Navan, Dublin Airport and the M50.

Auctioneer Richard Brophy, of selling agents Goffs, offered the property in three lots. Lot one included 136ac, a wide range of farm buildings and good road frontage. Lot two, located across the road, consisted of 177ac and several large holding pens, while lot three was the entire.

Lot one was the first to face the bidders and it opened at €900,000. Three people competed for this section and, in bids of €25,000, drove the price to €1.2m, at which point it was withdrawn.

Lot two opened at €1.4m and, while two bidders declared interest, it was withdrawn after one bid of €1.41m.

Mr Brophy then put the entire on the table and sought bids in excess of €2.6m -- but he had no takers.

Returning to the lots, there were no further bids and the auction closed without a result.

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However, Mr Brophy and Pat O'Hagan, of joint agent Savills, are engaged in active negotiations with the two highest bidders in relation to the lots and three interested parties in relation to the entire.

"Two of the parties interested in the entire were in attendance at the auction, while a third expressed interest after the property was withdrawn," said Mr Brophy.

While much ground remains between the guide of €3.13m and the offers of around €2.6m, the two selling agents are confident of an outcome in the near future.

Irish Independent