Farm Ireland

Monday 11 December 2017

Sales holding own in Galway

Declan O'Brien

Declan O'Brien

When Martin Tyrrell finalised the sale of a 33ac holding in north Co Galway recently, the auctioneer's tally for land transactions this spring topped the €1m mark.

Among the headline sales for the estate agent were two properties in Corrandulla, an 18ac holding in Belclare, as well as the aforementioned 33ac farm at Liss, Headford.

The Headford holding was located two miles outside the town and came with an old-style two-storey farmhouse and some out-offices. The lands were all in grass and described by Mr Tyrrell as being of "good quality".

The property was withdrawn from auction last year at €200,000 but negotiations had continued with a number of interested parties.

The farm was eventually sold recently in two lots for a total of €350,000. A local family bought the house and around 4.5ac, while a local farmer purchased the remaining 28.5ac.

Mr Tyrrell also secured the sale of 18ac at Ballintleva, Belclare last month. The sale price of €77,500 equated to €4,300/ac.

The land was all in grass and was bought by a solicitor who was believed to have been acting in trust for a neighbouring land owner.

The Corrandulla farms included a 32ac property at Caherlea, located a mile from the village, and a 12ac holding on the outskirts of the village.

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The 32ac farm was described by Mr Tyrrell as "top quality" ground, which was all in one block and came with extensive road frontage. It was sold with an old-style farmhouse.

The farm was just eight miles from Galway city and this was to prove a major attraction as a man from the outskirts of the city paid €470,000 for it. This equated to €14,700/ac.

The 12ac close to Corrandulla village, which was in three divisions, was bought by a neighbouring farmer for €106,000 or €8,800/ac.

Mr Tyrrell said there had been good farmer interest in the property market this year as the continued buoyancy in commodity prices had restored some confidence in the market.

He said the strongest demand was for smaller blocks of good quality land.

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