Farm Ireland

Monday 23 April 2018

Lakeside property fetches a big price

A panoramic view of the 42ac farm for sale at Dysart on Lough Ennell near Mullingar
A panoramic view of the 42ac farm for sale at Dysart on Lough Ennell near Mullingar
Jim O'Brien

Jim O'Brien

A Westmeath lakeside property with a traditional farmhouse on 42ac sold under the hammer of Padraic Murtagh of James L Murtagh last week making €445,000.

It exceeded the guide by €145,000 and made almost €10,600/ac.

Located at Lilliput Road, Dysart the house is 11km from Mullingar on the Delvin road.

The 42ac is laid out in about nine fields of grass while the farm also has access to 20ac of lakeside foreshore on Lough Ennell that has emerged as a result of declining water levels over the years.

The house is described by Mr Murtagh as a charming, ivy-clad two-storey house full of character but in need of refurbishment.

The farmyard adjacent to the dwelling includes a two-column hayshed and a range of stone outbuildings.

According to Mr Murtagh the lands are, in the main, of good quality with access to decent road frontage.

At auction bidding opened at €280,000 and two bidders drove the price to €340,000 in increments of €10,000. Matters then proceeded in lower tranches of €5,000 at which point two new bidders entered the fray and the place was bid to €420,000.

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It was put on the market at this point and bid to €440,000 until it eventually sold under the hammer for €445,000.

The bidding was brisk with the initial bidder, representing a farming family from Westmeath with agri business interests, staying in the race right up to the end and winning the day.

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