Farm Ireland

Friday 15 December 2017

Delight at €560k for Maynooth farm

Jim O'Brien

Jim O'Brien

An agent believed to be acting for Moyglare Stud paid a record €21,500/ac for an adjoining 26ac farm auctioned at the Glenroyal Hotel, Maynooth, last Thursday. Meanwhile, across the fields a 127ac farm was sold by private treaty for €8,267/ac.

The first property, a 26ac farm at Bryanstown, Maynooth, was originally established by the Land Commission and includes a cottage, now derelict, along with three dry fields.

A large crowd attended the auction to see proceedings open at €300,000, while five active bidders entered the frame. The price quickly reached €500,000 at which point the property was put on the market and bidding continued until the hammer fell at €560,000.

Commenting on the auction Eamon O'Flaherty, of selling agents Property Partners Brady, said he was delighted with the sale.

"The price reflects the fact that there is still significant demand for farms that are well located and location was an important factor in today's sale. While we had five active bidders, we must remember that four of them are still looking for a suitable farm."

A 127ac farm also located in the Moyglare area of Maynooth was also sold last week.

Evan Lonergan, of selling agents HT Meagher, handled the sale on the instructions of receiver PWC.

According to Mr Lonergan the farm created huge interest from buyers all around the country. "Parties travelled from as far away as Donegal and Mayo to inspect the lands," he said.

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The land is described as top quality ground with 100ac in permanent pasture and the remainder in tillage. Divided into 14 separate fields with mature hedgerows and post and wire fencing, the various divisions are serviced by an internal roadway that runs through the lands.

The holding also includes a farmyard comprising a three-bay, slatted shed and a two-bay haybarn. The lack of road frontage had to be factored into the asking price, according to Evan Lonergan.

The property was offered to the market at €975,000 and sold eventually for €1,050,000 or €8,677/ac. While there continues to be strong interest in smaller land parcels there is also a steady market for large-sized, good-quality holdings.

Indo Farming