Strong bidding sees Galway farm break the million mark

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Jim O'Brien

Jim O'Brien

A 184ac residential farm outside Ballinasloe at a place called Ashford near Creagh sold as an entire immediately after auction last week.

The place was bid to €970,000 before being withdrawn. It sold later to the highest bidder for a price believed to be well over the €1.2m guide price.

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The house is a solid traditional two-storey farmhouse with accommodation that includes an entrance porch and hallway, a sitting room, a kitchen with some fitted units, three bedrooms and a bathroom. The place is habitable but will need work to modernise it. The yard is basic and traditional, made up of a three-column hay shed, a range of stone sheds, small open-bay sheds and cattle handling facilities.

The main lot was made up of 124ac of ground stretching out behind the house and rising to a nice elevation giving views of Ballinasloe town.

Divided into large fields it is well-fenced with electric fences and hedgerow and bounded on the lower level by the river. With a few entrances from the cul-de-sac the lot includes a spacious and sturdy set of cattle pens.

On the opposite side of the lane way were two lots of 34.65ac and 24.07ac respectively with plenty of frontage.

On auction day Mullingar auctioneer Padraic Murtagh of James L Murtagh went around the house eight times starting with the 124ac lot which attracted one bidder at €500,000. The 34.65ac piece was bid to €100,000 by another with the 24ac parcel bid to €75,000 by two customers while the house and yard on 0.75ac went to €50,000.

With €775,000 on board collectively for the lots, Mr Murtagh sought bids on the entire and this opened at €800,000 with a sole bidder in action. The competition between the lots and the entire continued until the price on offer for the entire reached €970,000. At that point the property was withdrawn.

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Negotiations with the highest bidder, a solicitor acting in trust, began immediately and concluded later that evening when a local businessman with farming interests is believed to have bought the farm for more than €1.2m.

Westmeath farm sale

Last week, Mr Murtagh successfully sold a 44ac farm at Castletown Geoghegan, Co Westmeath.

Described as excellent quality land in three, neat, well-fenced paddocks with absolutely no waste the farm has extensive road frontage. South-facing and currently laid out in sheep-fenced paddocks there is water to all divisions and good sheep-handling facilities.

At auction the property attracted two bidders when it opened at €300,000. Rising sharply in tranches of €30,000, €20,000 and €10,000 the bidding slowed to €5,000 increments after it hit €420,000/ It was then put on the market following consultation with the vendors.

Two further bids saw it sell at €443,000 or almost €10,000/ac to a local farmer.

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