63-acre farm in Westmeath makes €642,000

A 63-acre residential farm at Anneville, Gaybrook, Mullingar, sold in three separate lots for a combined total of €642,000 last week.

Just four miles south of Mullingar, the property came to the market with a three-bed bungalow residence and a range of farm buildings that included a slatted shed and a two-bay hay shed. Around 40 people turned up to the Greville Arms Hotel, Mullingar, for last week’s auction, which was conducted by selling agent Dillon Murtagh from Murtagh Bros, Mullingar.

Although the entire was bid to €560,000, it became clear during the course of the auction that the property would sell in lots. Bidding for the first lot, comprising the residence and buildings on 6.9 acres, opened at €130,000. With the help of three interested parties, this lot was later put on the market at €200,000 and sold to a local person for €210,000.

A further circa 13.75 acres was snapped up by a local farmer for €100,000 while the remaining 42.5 acres was knocked down at €332,000 to another local farmer. This gave a combined total of €642,000, or an average of €10,200/acre (including the house).

The property was guided in the region of €550,000 prior to auction.

Westmeath 75-acre farm making progress

Meanwhile, over 30 people turned up to the Greville Arms Hotel, Mullingar, for the auction of a 79-acre non-residential farm at Martinstown, Crookedwood, Co Westmeath.

It’s understood that a circa 4.3-acre block sold in a private deal prior to auction, which reduced the total on the day to circa 75 acres. However, despite the good turnout, few were willing to raise their hand and selling agent Dillon Murtagh from Murtagh Bros, Mullingar, withdrew the farm at €300,000. It’s understood that a number of higher offers have been put forward since the auction but negotiations are continuing. The 75 acres was guided in the region of €450,000 prior to auction.

With the exception of a small 3.9-acre field across the road, the remaining circa 71 acres is set out in one big block. About 55 acres of this is in stubble and is regarded as “the best of ground” while the remaining circa 16 acres is elevated hillside, suitable for grazing.

Generally laid out in big rolling fields, the land is reported to be mostly free-draining fertile ground that features dual frontage to two roads.