Farm Ireland

Tuesday 24 October 2017

Frenchpark land sold at a cut price of €115,000

Ten acres of roadside land on the outskirts of Frenchpark, Co Roscommon, made €115,000 (€11,500/ac) when auctioned over the telephone recently.

Ballyjamesduff-based auctioneer Padraig Smith, along with joint agents John Earley of Roscommon, handled the sale.

The land consists of 10ac in two divisions with a piped water supply and cattle handling facilities.

According to Mr Smith, the land had been bought during the boom years for a much higher price but the current owner now wished to dispose of it.

The land is located just beside the village of Frenchpark and has excellent road frontage.

Three bidders were involved in the sale and bidding opened at €70,000.

In bids of €1,000 and €2,000, the interested parties stayed with the sale until it reached €91,000 when it went on the market.

The auction continued apace until the final bid brought the price to €115,000 when it was sold to a farmer from the Boyle area.

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According to Mr Smith, all sides were happy with the price paid.

"Of course, smaller parcels of grounds will make stronger prices, but, even at that, €11,500/ac was a good price for this area," he said.

Indo Farming