A local couple bought a small 10ac block of land in two fields, which was withdrawn from auction in Co Meath last Tuesday.
Located at Higginstown, about 2.5 miles from Athboy, the land is currently in pasture and suitable for any type of farming. With good road frontage, the land could also be bought with a view for residential planning.
Auctioneer Thomas Potterton guided the property at €80,000-100,000, and he opened the bidding at €50,000. Two bidders took the price up in €5,000 bids until the auction proceeded to €70,000 where it drew to a halt. Mr Potterton then consulted with the vendor and withdrew it.
Immediately after the auction, negotiations continued with the highest bidder until the deal was closed. It is believed that the buyers, a local professional couple who intend to farm the land, paid a price in the region of the guide price.
Prior to this auction, another property, due to be sold at the same event, was withdrawn.
Explaining the withdrawal of a 64ac section with a farmyard at Riverdale, Co Westmeath, Mr Potterton said that despite the greatest endeavours, the contracts were not ready.
"We contacted many people who intended to be here to tell them the auction was cancelled and we took the names and addresses of those who turned up with an interest," he said.
"There is nothing untoward in the withdrawal, except a delay in the paperwork. That is all but resolved and we will be offering the property for sale by private treaty in the immediate future."
The entire property is guided at €450,000-500,000.