Post-auction deal sees Longford holding sell at €5,500 per acre
The land auction scene has been busy for the last few weeks with some notable sales throughout the country.
At Annagh, The Pigeons on the Longford/Westmeath border, Padraic Murtagh of James L Murtagh auctioneers sold a 55ac residential farm soon after it was withdrawn from auction at €268,000.
Located 15km from Athlone and 8km from Ballymahon, the holding is in a picturesque area, running down to Lough Ree.
Laid out in a number of neat grass fields, the farm includes a traditional two storey, three-bedroom farmhouse in need of modernisation, while the yard is made up of a two-column modern shed, a cow byre and a store.
At auction, the property was offered in three lots. The house and yard on 29ac received two bids from the one customer and was held at €110,000.
When a parcel of 26ac attracted no bid, the entire was introduced and opened at €220,000.
Two bidders drove it to €257,000, at which point the auctioneer consulted the vendors and returned to the room where a further €11,000 was added. The place was withdrawn at the accumulated €268,000.
Post-auction negotiation ensued immediately and resulted in the place being sold to the highest bidder. It is believed it made around €300,000, or €5,500 per acre.
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