Farm Ireland

Thursday 22 March 2018

Meath blocks snapped up for just shy of €1m

Jim O'Brien

Jim O'Brien

A 79.5ac Co Meath holding, located at Dowth and Ballyfeddock in the Boyne Valley, sold at auction last week for €990,000 or almost €12,500/ac.

The land, laid out in two blocks some distance apart, was offered in three lots by Navan auctioneer Raymond Potterton. One section, a 29.5ac residential parcel at Dowth, came with a guide of €300,000. A second parcel extending to 50ac and located one mile away at Ballyfeddock, Slane, was guided at €450,000.

The residential farm at Dowth is situated in view of Newgrange, six miles from Slane and Drogheda. It comes with good road frontage, a three-bedroom bungalow and a yard with a range of stone sheds and some more modern sheds. In three divisions of old pasture, the land is described by Ronan McKenna of Raymond Potterton auctioneers as good quality, undulating ground with very decent road frontage.

This portion of the property was offered in two lots with one section comprising the house and yard on 7.5ac and another consisting of 22ac. Up to six bidders showed an interest when the lots were offered.

The house, yards and 7.5ac opened at €100,000 and in bids of €10,000 the lot soon reached €250,000, where it held. The 22ac parcel opened at €150,000 and held at €180,000.

The entire opened with one bid of €435,000 putting it €5,000 ahead of the combined price on offer for the lots.

The customers for the lots then competed with the bidder on the entire.

The residential section was bid to €270,000, while the 22ac went to €205,000, giving a total of €475,000. But the bidder for the entire, a local dairy farmer, had the last word when he brought the hammer down with a bid of €480,000.

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The 50ac parcel of ground is located at Ballyfeddock, off the Slane to Drogheda road. This also attracted strong interest.

Set out in five fields of permanent pasture, the land is bounded on one side by a stream and on the other by a minor road.

The sale opened at €400,000 and with three bidders in action the parcel soon reached €500,000 and hit the market.

A new bidder entered the fray at this stage with a bid of €505,000. However, one of the original bidders, a southern man with property in the locality, came up with the decisive offer of €510,000.

Ronan McKenna was delighted with the eventual sale prices and the level of competition for the various divisions.

"This was a very strong result from a very strong auction.

"We are anxious to find more land of this calibre as there is clearly a strong market for it," he said.

Irish Independent