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152ac residential farm in Meath sells for €4.1m

This sale demonstrates that commercial farmland continues to generate strong interest from cash buyers’

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Strong price: Primrose Park, a 152ac tillage farm outside Ashbourne, Co Meath with a 1970s house and range of dated sheds, made €4.1m at auction

Strong price: Primrose Park, a 152ac tillage farm outside Ashbourne, Co Meath with a 1970s house and range of dated sheds, made €4.1m at auction

Primrose Park is between Ashbourne and Ratoath

Primrose Park is between Ashbourne and Ratoath

The house is a substantial two-story structure built in the 1970s and extending to 2,583 sq ft

The house is a substantial two-story structure built in the 1970s and extending to 2,583 sq ft

The land at Primrose Park made €24,000/ac.

The land at Primrose Park made €24,000/ac.

A 42.8ac property at Moranstown, Ballynacargy, Co. Westmeath, was sold by Murtagh Bros for €416,000 or about €9,700/ac

A 42.8ac property at Moranstown, Ballynacargy, Co. Westmeath, was sold by Murtagh Bros for €416,000 or about €9,700/ac

A 78.5ac holding of grass and forestry at Brownstown, Cuffesgrange, 4km from Kilkenny City was bought by a dairy farmer for €955,000

A 78.5ac holding of grass and forestry at Brownstown, Cuffesgrange, 4km from Kilkenny City was bought by a dairy farmer for €955,000

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Strong price: Primrose Park, a 152ac tillage farm outside Ashbourne, Co Meath with a 1970s house and range of dated sheds, made €4.1m at auction

In one of the strongest prices to be paid for a large farm, €24,000/ac was bid for a 152ac residential holding near Ashbourne in Co Meath.

Primrose Park Farm at Greenogue, Kilsallaghan was sold as an entire under the hammer of Savills auctioneers for €4.1m.

In the course of the auction the house and yards on 2.5ac were making €520,000, which means the remaining 149.5ac of farmland can be valued at €24,000/ac.

Situated 5km from Ashbourne and 8km from Ratoath, the property includes a modern two-storey farmhouse with farm buildings and frontage on to three roads.

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Primrose Park is between Ashbourne and Ratoath

Primrose Park is between Ashbourne and Ratoath

Primrose Park is between Ashbourne and Ratoath

It is tilled from boundary to boundary and currently planted in winter crops.

The 2,583 sq ft house was built in the 1970s.

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The house is a substantial two-story structure built in the 1970s and extending to 2,583 sq ft

The house is a substantial two-story structure built in the 1970s and extending to 2,583 sq ft

The house is a substantial two-story structure built in the 1970s and extending to 2,583 sq ft

Outbuildings include a garage and a traditional yard with a partly enclosed five-column haybarn with lean-tos, an A-roofed, four-column shed and a traditional lofted potato shed.

The land is in 10 large fields and part-bounded by a local river.

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The land at Primrose Park made €24,000/ac.

The land at Primrose Park made €24,000/ac.

The land at Primrose Park made €24,000/ac.

It has plenty of road frontage on to the R125 and on to an adjacent side road, with another access point from the R130.

At auction the property was offered in lots, with the house and sheds on 2.5ac forming one and the remaining 149.5ac making up the rest.

The residence and yards on 2.5ac was bid to €520,000 but  it was soon clear to auctioneers Cianán Duff and Pat O’Hagan of Savills that the interest was in the entire.

Bidding opened at €3m and quickly rose in increments of €100,000 to €3.8m.

At this stage, Pat O’Hagan put the property on the market and three further bids saw the hammer fall at €4.1m.

The buyers are believed to be a local family with equestrian interests.

“This sale demonstrates that commercial farmland continues to generate strong interest from cash buyers,” Mr O’Hagan said, “who are looking to invest in farmland as a tangible asset which acts as an inflationary hedge and offers conservation opportunities over and above food production.”

43ac Westmeath farm sells for €9,700/ac

A 42.8ac property at Moranstown, Ballynacargy, Co Westmeath was sold by Murtagh Bros for €416,000 or about €9,700/ac.

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A 42.8ac property at Moranstown, Ballynacargy, Co. Westmeath, was sold by Murtagh Bros for €416,000 or about €9,700/ac

A 42.8ac property at Moranstown, Ballynacargy, Co. Westmeath, was sold by Murtagh Bros for €416,000 or about €9,700/ac

A 42.8ac property at Moranstown, Ballynacargy, Co. Westmeath, was sold by Murtagh Bros for €416,000 or about €9,700/ac

Described by Dillon Murtagh as “a good solid farm in need of some attention”, it is 800m from the village of Ballynacargy.

Divided into 11 fields, the holding has a three-column bedded cattle shed, cattle-handling facilities and water supplied from a private well.

At auction the property went on the market at €325,000, and the hammer fell at €416,000.  

28ac parcel on the edge of Rhode

In Offaly a 28ac parcel of ground on the edge of Rhode was sold in lots by Padraic Murtagh of James L Murtagh, making a combined €452,000.

An 18ac section opened at €130,000 and went up in increments of €10,000. It went on the market and sold at €270,000, while a 10ac piece in 6ac and 4ac sub-sections opened at €102,000, went on the market at sold for €182,000.

78.5ac of grass and forestry sells for €955,000

A 78.5ac holding of grass and forestry at Brownstown, Cuffesgrange, 4km from Kilkenny city was bought as an entire by a dairy farmer from a neighbouring parish for €955,000.

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A 78.5ac holding of grass and forestry at Brownstown, Cuffesgrange, 4km from Kilkenny City was bought by a dairy farmer for €955,000

A 78.5ac holding of grass and forestry at Brownstown, Cuffesgrange, 4km from Kilkenny City was bought by a dairy farmer for €955,000

A 78.5ac holding of grass and forestry at Brownstown, Cuffesgrange, 4km from Kilkenny City was bought by a dairy farmer for €955,000

The holding has no buildings but comes with plenty of road frontage.

The grassland extends to 53.25ac while a parcel of 16.5ac is in forestry with premiums of €3,000 per annum to be paid for the next 11 years.

Kilkenny auctioneer Pat Gannon conducted the auction.


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