Farm Ireland

Wednesday 25 April 2018

Buzz back in Meath land sales

Jim O'Brien

Jim O'Brien

The auction rooms in the Royal County are buzzing this weather with one farm after another selling under the hammer.

Among the properties to recently change ownership with the tap of a gavel was a 50ac residential farm at Knockbrack, Oldcastle, Co Meath. Under the direction of Navan auctioneer Raymond Potterton the farm was offered in lots but sold as an entire for €490,000 or just under €10,000/ac.

The farm can be reached by footpath from the town centre of Oldcastle and includes a two storey Georgian farmhouse in need of complete renovation and a traditional farmyard with some cut-stone buildings in need of extensive refurbishment. The lands are laid out in seven divisions entirely under old pasture and divided by mature hedging.

At auction a parcel of 6ac was bid from €40,000 to €60,000 by three bidders before it was held. The house on 44ac opened at €250,000 and with four bidders in contention it was bid to €350,000 and held.

Attention turned to the entire which opened at €430,000. With three active bidders involved it went on the market at €450,000 and, despite the attentions of sterling customers, sold to a local farmer for €490,000.

Kells farm

Mr Potterton also handled the sale of a 23ac farm at Doon, Tierworker, Kells on the Cavan/Meath border. It was bought for €195,000 by a local farmer.

Located north of Moynalty and south of Bailieborough, the 23ac is laid out in five fields with road frontage onto two roads. The ground is good with decent topsoil on a gravel base.

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At auction the property opened at €150,000 and with three bidders competing it moved in increments of €10,000 and €5,000 until it reached €190,000. It went on the market at that price and one further bid of €5,000 saw it sell to a local farmer for €195,000 or almost €8,500/ac.

'Sensational' auction

Meanwhile, a 21ac farm at Rathbrack, Crossakiel near Kells was the subject of a sensational auction when it sold to an 11th hour bidder for €194,000 or over €9,200/ac.

Located 4.5km northwest of Kells, the land is under pasture and dotted with some fine stands of beech and ash trees.

Bidding opened at €120,000 and with three bidders in action the price quickly rose to €165,000. It went on the market at this point and with two bidders remaining matters continued until a price of €192,000 was reached.

As the gavel hung in the air, a last second bid of €1,000 brought the price on offer to €193,000.

Again the auctioneer called it once, called it twice and just as he was about to strike the podium a new bidder entered the fray and won the day with a bid of €194,000. The last minute bidder is a local man with business and farming interests.

Indo Farming