A 115.5-acre tillage farm in Salterstown, Co Louth, sold at auction last week for €1.39m (€12,000/acre). Selling agent Chris Smyth, Gunne Auctioneers, Navan, said there were three active bidders for the farm.

After an opening bid of €850,000, offers increased in increments of €10,000 and €20,000, until the bidding reached €1.37m. At this point the vendors were consulted and the land was put on the market. Just two more bids were made for the land and an offer of €1.39m was enough to secure the farm for a well-known local farmer/businessman.

The farm at Salterstown overlooks the Irish Sea and has excellent frontage onto the coast road at two separate points. The land is laid out in two adjacent blocks and divided into 12 good-sized fields. The farm also comes with a derelict farmhouse, some stone outbuildings and sheds.