Mullingar lots reach €450,000
MORE than €14,000/ac was paid for land near Mullingar, Co Westmeath last week, with a second lot from the same farm making more than €10,000/ac.
The 34.5ac farm with a derelict house located at Simonstown and Mahonstown, Gaybrook near Mullingar made a total of €453,000.
The property is in two lots located about 1.5 miles apart, with the house and 25ac situated at Simonstown on the Rochfortbridge road and a 9.5ac parcel located at Mahonstown.
The residence is in need of complete refurbishment, while the farmyard is of the traditional type comprising a hay barn with lean-to, a bedded shed and some stone sheds.
The 25ac of land is all in grass and described by Dillon Murtagh as fine grazing ground, in good heart with decent road frontage. The 9.5ac parcel is all in one field with very good road frontage.
Auctioneer Paul Murtagh opened the 25ac Simonstown parcel at €100,000.
With up to six bidders showing interest, the property rose quickly to €230,000 at which point it was put on the market and was sold to an adjoining farmer for €362,000, or €14,480/ac.
The 9.5ac parcel opened at €50,000 and with four bidders in the chase it went on the market and sold at €91,000 to a local farmer.
Meanwhile, in neighbouring Roscommon, auctioneer John Earley sold an 80ac farm in lots on the outskirts of Boyle for a total of €544,000. The sale price exceeded the guide by almost €60,000.
The lands form the estate of the late John Mattimoe and are in the townlands of Carrickmore, Lowpark and Spa, beside Boyle town.
They are in three distinct parcels of 46.75ac, 8.87ac and 23.28ac respectively and were sold separately.
The 46.75ac parcel located at Carrickmore (The Plains), just off the main Roscommon road, includes a derelict bungalow residence, a two-bay hay shed and other storage sheds. The ground is described by Mr Earley as good, limestone dual-purpose land.
This part of the property was sold in two lots with a parcel of 18.33ac sold for €150,000, more than €8,000/ac, while a 28.42ac piece sold for €190,000, more than €6,500/ac.
Both parcels were bought by local farmers.
The next lot, 8.87ac at Lowpark, Boyle, was formerly used as a football pitch and is described as top quality, elevated roadside land with substantial frontage. This opened at €90,000 and with three bidders in action it sold for €110,000, or more than €12,000/ac.
The final parcel located at Spa, Boyle extends to 23.28ac. It includes a derelict two-storey residence and is set out in three lots on opposite sides of the public roadway.
This land is of inferior quality to the other pieces. This opened at €50,000, went on the market at €85,000 and sold to a local farmer for €94,000, or €4,000/ac.
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