Bidders pile in to drive price of small Meath land parcel to €27,000/acre

Stock photo
Stock photo

Storm Powell

There is a strong demand for small plots of good Meath land, which is selling for an average of €10,000 to €11,000/ac says auctioneer Aidan Heffernan of Sherry Fitzgerald Royal, Trim.

And in some cases, buyers are willing to pay well in excess of the average to secure land in the Royal County.

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Mr Heffernan recently handled several sales, including the auction of a 3.7ac parcel at Clondoogan, Summerhill, which secured €27,297/ac at a recent auction.

This land, which is well fenced and in permanent pasture, includes a derelict house and outbuildings.

"This is an extraordinary price for land and far exceeded expectations," said Mr Heffernan. It went on the market at €60,000 but, with two keen bidders, was quickly bid up to €101,000. The land went to a local buyer who also bought 3.2ac of cutaway bog in the same townland for €16,000 or €4,900/ac.

Trim auction

The going price was closer to the average when Mr Heffernan sold 16ac at Drinadaly, Trim, for €186,000 or €11,625 per acre. This holding, which includes a small slatted shed, went on the market at €145,000 and was sold 28 bids later to a non-farming local man who wishes to commence hobby farming.

A non-residential holding of 12ac in Moygrehan on the Westmeath side of Athboy went on the market at €110,000 and, after seven bids, was sold at the guide price of €130,000 or €10,800/ac. The purchaser is a businessman with farming interests.

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The same auctioneer also sold 8.3ac at Ardanew, Longwood, Co Meath, for €80,000.

This land, which is in permanent pasture, has been leased to a popular local farmer for over 30 years and few were prepared to bid against him. The guide price was €90,000, but it was agreed to sell to him at €80,000 for €9,617/ac.

A local farmer purchased 10.3ac at Kilmore, Cadamstown, Co Kildare, for €85,000 or €8,244/ac. The guide price was €90,000.

Negotiations are proceeding for 13ac of permanent pasture at Isaactown, Rathmolyon, Co Meath, which was withdrawn from auction at €85,000. The auctioneers are hoping to make €100,000.

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