Local farmer snaps up Roscommon farm at €6,000/acre

By Shirley Busteed

09 September 08 : The hammer fell at €500,000 for 83 acres near Elphin.

Around 25 people turned up to the Royal Hotel, Boyle, for the auction of a 33.6-hectare (83-acre) mixed quality farm situated at Corry East and Cloonyeffer, Elphin, Co Roscommon, last week. Although it took almost two hours to reach a conclusion, the farm sold under the hammer in one lot for €500,000.

Joint agents Tom Cox, Strokestown, and Allen G Ffrench, Kilmore, initially offered the property in two separate lots. After a couple of rounds of bidding, the first lot comprising 39.5 acres and a derelict residence at Corry East peaked at €230,000, while the remaining 43.5 acres situated at Cloonyeffer, Kinclare, which included four acres of bog, fetched €250,000. With no more in the tank, the lots were withdrawn but active bidding from two keen customers saw the entire later knocked down at €500,000 (€6,024/acre) to a local farmer. The underbidder was a solicitor acting in trust. Although representing the lower end of the market, it was good to see a successful outcome at auction.

Suited to summer grazing only, the land is of average quality and did attract some forestry-based interest during the selling campaign. The residence is an old derelict house in need of extensive repair.

Tuam 106-acre farm bid to €2.15 million

It's understood that selling agent Martin Tyrrell, Tuam, is in talks with the highest bidder following last week's auction of a 42.8-hectare (106-acre) residential farm situated at Ardacong, Tuam, Co Galway. The property was bid to €2.15 million at auction and later withdrawn. A number of fresh inquiries were received afterwards but negotiations still continue.

Incidentally, most of the interest came from non-locals. It's believed the highest bidder is from overseas.

Situated just 300 metres from the town boundary, the farm was offered for sale with the potential for long-term development.

Up to five years ago, the farm was transformed into a family-run golf course, but in more recent years, was used to graze cattle.

It comes to the market with a cut-stone two-storey residence, which was the original club house, and a range of other stone outbuildings. A guide in the region of €5 million had been quoted prior to auction.

Monaghan lands fetch €18,100/acre

Local farmer, Gussy Forde, clinched the sale of a 13.4-hectare (33-acre) residential parcel of land situated at Carrickaduff, Castleblayney, Co Monaghan, at last week's public auction.

On the day, the local farmer and an auctioneer acting in trust drove the sale price into €600,000, at which stage the property was declared on the market and sold at €18,100/acre. In the current climate and bearing in mind that half the land was rough grazing, this represents a good result.

Located four miles from Castleblayney, the property came to the market with an old dwelling house, slatted accommodation for 30 cattle, and an old range of traditional outoffices. Nugent Auctioneers, Castleblayney, handled the sale.