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Tuesday 22 January 2019

Christmas crackers - two successful farm auctions in Meath

The 104ac at Gehanstown in Meath sold as an entire
The 104ac at Gehanstown in Meath sold as an entire
The 30ac residential farm at Newhaggard on the banks of the Boyne near Trim, Co Meath sold in lots to make a total of €400,000
Jim O'Brien

Jim O'Brien

The 2018 property season ended on a solid note with the sale of two farms at auction in Meath

Santa Claus came early to the Raymond Potterton auction rooms when its last auctions of the year saw Raymond and Stephen Barry sell two farms located in Meath.

A 104ac residential holding at Gehanstown, 5km from Delvin and 15km from Kells, sold as an entire under the hammer, making €835,000, while a 30ac residential farm at Newhaggard near Trim sold in lots and made a total of €400,000.

With extensive road frontage on to a public road and public cul-de-sac, the farm at Gehanstown is laid out in a series of large undulating fields, a place that was farmed extensively by the owner.

The 30ac residential farm at Newhaggard on the banks of the Boyne near Trim, Co Meath sold in lots to make a total of €400,000
The 30ac residential farm at Newhaggard on the banks of the Boyne near Trim, Co Meath sold in lots to make a total of €400,000

While the hedges could do with attention and the soil in need of fertiliser, the land is sound. Aside from a lower portion with rushes, it is good dry ground. The house and main yard are located at the end of the cul-de-sac, while other farming facilities include a relatively modern three-column lean-to style building located on a small yard at the centre of the land.

The main yard is made up of a four-column round roofed shed, some cattle-handling facilities and a number of old stone sheds.

The one-bedroom cottage dwelling is in need of complete refurbishment.

At auction, the house and main yard on 7ac attracted two bidders and, having opened at €40,000, was bid to €58,000 where it held.

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The larger section extending to 97ac with the smaller yard opened at €660,000 and was bid to €720,000 where it too held.

The entire opened at €778,000 and attracted two bidders who drove the price to €820,000 when the auctioneer recessed for consultation.

On his return, the property was put on the market at €820,000 and sold at €835,000 to a local businessman with farming interests.

Trim auction

A 30ac residential farm on the banks of the Boyne near Trim sold in lots.

Located just 3km from the Meath county town, the farm is located at the end of a cul-de-sac and divided naturally into a number of lots.

A 17.5ac piece laid out in three fields is reached from the road and bounded at the back by the Boyne.

The fields are good and firm and even the strip of land closest the river is relatively dry despite its location. Fenced by traditional hedgerow that needs attention, the land is in permanent pasture and made up of decent grazing ground.

At auction, this opened at €110,000 and was bid to €145,000 by three bidders.

In a second round of bidding, it was put on the market at €145,000 and sold at that figure.

An 11ac field to the rear of the house is high and dry and bounded by traditional hedgerow with some fine stands of beech and ash trees.

This opened at €80,000 and with two bidders in the chase, it held at €110,000.

In a second round of bidding, it went on the market at that price and, after another series of bids, sold at €125,000.

The house and outhouses on 1.5ac are in need of complete renovation, including the cottage, the two-column hay shed and a range of other buildings in the yard.

It opened at €70,000 and was bid to €130,000 where it held. In a second round of bidding, it went on the market at €130,000 and sold at that.

In total, the place made €400,000 or €30,000/ac. The per-acre price is somewhat skewed by the house and 1ac. In reality, this is a site with veritable planning located within 3km of Trim.

Excluding the house and site, the price works out at just under €9,500/ac.

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