Farm Ireland

Friday 17 November 2017

Northern buyer pays €810,000 for 83 acres

Jim O'Brien

Jim O'Brien

There was interest only in the entire when an 83ac Co Meath farm went for sale at the Stand House Hotel, Ratoath recently. When the hammer fell auctioneer Ronald Duff sold the holding for €810,000.

The non-residential farm is located at Newtown, Ardcath, about 7km from Duleek and 15km from Drogheda. It is described by Ronald Duff as excellent free draining Meath ground.

The major part of the farm, 63ac, is under a crop of winter cereal, with the remainder in old pasture with good, stock-proof fences throughout.

About 20 people showed up for the auction and when bidding opened at €500,000 the price moved swiftly in bids of €50,000 to €800,000.

At this point it was decided to offer the property in two lots of 63ac and 20ac respectively, but there were no bids on the lots.

Mr Duff returned to the entire, putting it on the market at €800,000 and, after two bids of €5,000 each, the hammer came down at €810,000 and the farm was sold to a customer from Northern Ireland.

The sale price of €9,750/ac was close to the guide of €10,000/ac.

Asked if everyone was happy with the sale, Mr Duff replied that "no-one was happier than Ronald Duff".

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