Farm Ireland

Saturday 17 February 2018

Meath farm goes in lots for €400k

This property and 2.5ac at Bective in Co Meath sold for €160,000 at auction
This property and 2.5ac at Bective in Co Meath sold for €160,000 at auction
Jim O'Brien

Jim O'Brien

A 23.42ac residential farm at Bective in Co Meath sold in two lots at auction last week netting a total of €405,000.

Located 7km from Navan and Trim near the village of Robinstown the farm consists of a traditional single storey farmhouse, a traditional farmyard and tillage land.

The farmhouse is a long single storey structure in need of refurbishment and modernisation while a range of traditional stone outbuildings make up the farmyard. The land is entirely in tillage and laid out in one big field with 140m of road frontage and a natural water supply from the Claddy River.

At auction the property was offered for sale initially in two lots with the house and yards on 2.5ac making up one lot and the remaining 20.92ac making up the other. John Harrington of auctioneers Smith Harrington opened the bidding on the house and 2.5ac when he accepted a bid of €100,000. With two customers vying for the property, the price climbed steadily to €160,000 where it was held.

Mr Harrington then turned his attention to the land. The 20.92ac was off the blocks with an opening bid of €120,000 and, again, two bidders took to the chase until it reached €220,000 when Mr Harrington put it on the market. It eventually sold for €245,000 making more than €11,700/ac.

In the course of the auction, there was a certain amount of interest in the entire, which was bid to €395,000 when offered for sale but it stopped at that.

Local farmers

Mr Harrington returned to the sale of the first lot, the house and 2.5ac, and while he received no further bids he sold it immediately after auction for €160,000 to the highest bidder, a local man.

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A local farmer bought the 20.92ac and the underbidder was a solicitor believed to be acting for a local person living outside the country.

All in all Mr Harrington was delighted with the sale. "While I expected a bit more for the house I was very happy with the price we got for the land - at €11,711/ac it was a fine price for it," he said.

Indo Farming