Farm Ireland

Saturday 17 March 2018

Ex-TD pays double the guide price for 110ac Longford farm


Former Fine Gael TD James Bannon
Former Fine Gael TD James Bannon
Jim O'Brien

Jim O'Brien

A 110ac farm at Ardandra, Legan in Co Longford sold under the hammer of Murtagh Bros last week, making €800,000 - almost double its guide price of €400,000- €500,000.

The purchaser is James Bannon, who served as TD for Longford-Westmeath from 2007 to 2016.

Located less than 1km from Legan village, the farm is described by Dillon Murtagh as "a good solid holding in good farming country".

The farm is divided by the public road and contains 42ac of forestry planted in 2013 with €7,000 in premiums and 16 years of payments remaining.

The house is described as structurally sound but in need of complete renovation.

The land is divided into two lots by the public road, with 42ac at one side and 68ac at the other. Of the 42ac, a 20ac portion is in forestry, and of the 68ac, a 22ac parcel is planted for timber.

The unplanted land is described as good solid grazing ground with plenty of road frontage on both sides

According to Dillon Murtagh, the place has plenty of potential but needs a lot of attention, particularly the soil and the hedges.

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More than 50 people showed up for the auction which proved to be a lively affair.

There was only interest in the entire; it opened at €500,000 and was swiftly bid up to €800,000 by three strong bidders.

The entire was put on the market and sold at €800,000 to Mr Bannon.

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