A 36ac farm at Grennan, Oldcastle, Co Meath sold at auction last week for €270,000 or €7,500/ac.
Located four miles from Oldcastle beside Dromone village, the farm came to auction with a guide price of €200,000. However, it surpassed this target on the day by €70,000.
According to Stephen Barry of Raymond Potterton Auctioneers, the farm is well laid out with excellent public road frontage and divided by mature hedges into good-sized fields.
There is an unfailing natural water supply from a small lake that is well stocked with coarse fish.
A small two-storey derelict residence on the farm requires major renovation, while the limited outbuildings include a hay barn. The yard is accessed via a good farm road leading to the very back of the holding.
A crowded auction room in Kells, Co Meath saw proceedings open when a bid of €200,000 was accepted. Three bidders were involved in the initial stages of the sale and the price quickly rose in increments of €10,000 until it went on the market at €250,000.
At €255,000 a new customer entered the fray and matters proceeded in increments of €5,000 until the property was bought by a neighbouring farmer for €270,000.