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Friday 14 December 2018

95ac Westmeath property makes €730,000

Jim O'Brien

Jim O'Brien

A 95ac residential farm at Garthy, Castletown Geoghegan, Co Westmeath sold at auction last week, making €730,000.

Located 3km from Castletown Geoghegan and 20km from Mullingar, the property includes a two-storey traditional farmhouse in good structural condition but in need of complete modernisation.

The yard includes a number of old stone buildings and a three-column lean-to feeding shed with a steel frame fodder storage and machinery shed.

The land is made up of decent grazing ground laid out in about 10 fields with good external and internal fencing and ample road frontage.

In an auction handled jointly by Sherry Fitzgerald Davitt & Davitt and Property Partners McDonnell, the farm was offered in a number of lots with a parcel of c38ac opening at €200,000. This attracted two bidders and with Aidan Davitt keeping an account of proceedings, David McDonnell took charge of the gavel and put the place on the market at €250,000.

With no further bids forthcoming, he brought the gavel down at that price and the place was bought by a local farmer.

The house and yards were initially offered on c6ac with a parcel of 51ac of grazing ground offered separately. However, there was little interest in the lots on their own, whereas together, as a 57ac piece, they attracted three bidders.

After being bid to €450,000, the parcel was put on the market, but bidding continued and a further €30,000 was added before it sold at €480,000 to a local farmer.

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