Lots of lively bidding for Westmeath holding
A 36ac residential farm located at Hiskinstown, Delvin, Co Westmeath sold at auction in three lots last week making €317,000.
Situated on the N52 Mullingar to Dundalk road the property is 3km from Delvin and 16km from Mullingar. It has extensive frontage on to the N52 where the main entrance is located with frontage and access from a side road to a lower portion of the land.
The land is made up of good grazing ground laid out in three level fields bounded by some broadleaf forestry and fenced with traditional hedgerow.
The location on the N52 is a distinct advantage as the route is currently being upgraded and a small part of this land is earmarked for inclusion in the upgraded road and could be subject to a CPO in that regard.
A good crowd showed up for the auction and the place was offered initially in its lots by Padraic Murtagh of James L Murtagh auctioneers. The first lot comprised of the house and out-offices on 1.5ac and this opened at €50,000, attracting two bidders. It was bid to €66,000 where it held.
Next up was the major part of the property, a 24.6ac parcel fronting the N52. This opened at €150,000 and attracted the attention of two local farmers who bid it to €172,000 where it held.
The last portion, a 9.4ac parcel with frontage on to a side road opened at €60,000 and was bid to €66,000 and was held.
The entire was offered at that point but there was no interest forthcoming. The auctioneer returned to the lots putting the house and yard on 1.5ac on the market at €66,000. It was bid to €70,000 when a new bidder entered the fray but one of the original bidders, a local couple, stayed with it and won the day at €74,000.
The 24.6ac lot was put on the market at €172,000 and one bid of €1,000 from a local dairy farmer secured the place for €173,000. He intends to use it as an out-farm.
The last piece, extending to 9.4ac went on the market at €66,000 and sold to a local farmer for €70,000. "It was a great auction," concluded Padraic Murtagh, "all the lots were bought by local young people."
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