Farm Ireland

Thursday 19 April 2018

Bidding war pushes home €40k over its guide price

Jim O'Brien

Jim O'Brien

A period house on 17ac with a range of farm buildings at Milltown, Dysart, Mullingar, Co Westmeath, sold at auction last week for €360,000 exceeding its guide price of €320,000.

Located seven miles from Mullingar and 0.5 miles off the Athlone Road, the property comprises a modernised two- storey period residence with four bedrooms, a bathroom, sitting room and kitchen.

The lands are described by Mullingar auctioneer James Murtagh as the best of fattening ground, very well looked after and in great heart. The range of outbuildings on the property includes a four-bay haybarn, a lean-to and a garage.

A big crowd turned up for the auction at Annebrook House Hotel, Mullingar, and when bidding opened at €200,000 three bidders became engaged in the sale. A staggering 55 bids later, the property sold under the hammer to a man from Mullingar for €40,000 over the original guide price.

According to Mr Murtagh, there is great interest in this type of property, a house and up to 30ac on the outskirts of towns. While the per acre price of this sale comes to €21,000/ac, one has to take account of the location and the nature of the house in calculating the value.

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