Farm Ireland

Friday 23 February 2018

Land sales surge after summer lull

An old Orange Lodge was included with the residential farm at Tullyroan, Co. Cavan.
An old Orange Lodge was included with the residential farm at Tullyroan, Co. Cavan.
Jim O'Brien

Jim O'Brien

Land sales have picked up after the summer lull with two substantial properties in the midlands recently changing hands in multi-million sales that drew strong interest.

A 383ac estate with a Victorian house and farmyard was purchased at auction last week for €3.5m.

Claremont farm near Milltownpass, Co Westmeath was purchased by Tony and Anne O'Callaghan of the nearby well-known Tally-Ho Stud.

"We have been watching this for years and we had no intention of letting it go," said Mr O'Callaghan, who says the couple intend to use the property as a stud yard.

"It is less than two miles from us, we couldn't let it past," he said.

The property was formerly owned by the well-known horseman Cecil Ronaldson.

Auctioneer Paul Murtagh reported strong demand for the extensive holding from prominent equestrian interests on both sides of the border.

Tillage and forestry

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An extensive tillage and forestry farm at Rath, Co Westmeath also drew strong interest at auction.

Five different bidders were in action for the main land bank of 137ac which sold for €1,010,000 or €7,372/ac.

In Co Wexford, a 39ac holding near Gorey sold recently for €16.000/ac.

In recent weeks, Bailieborough auctioneer Peter Murtagh reported the biggest crowd he had seen at a sale since the downturn in the property market.

Mr Murtagh reported strong interest in the farmland at Tullyroan, Co Cavan, with a 13.6ac plot that sold for over €21,000 in 1993 fetching five times that when the hammer fell at €100,000.

Indo Farming