Three out of three

Selling agent Raymond Potterton, Navan, handled the sale of three land parcels last week and all of them sold successfully under the hammer.

Longford farm makes €446,000

First up was a 52-acre residential farm situated in Cloghernal, Granard, Co Longford. This was an unspoilt traditional grazing farm that came with a derelict two-storey residence and some slatted accommodation for cattle.

On the day, bidding opened at €350,000, and with the help of two bidders it went all the way to €446,000 (€8,500/acre), at which stage the hammer fell.

The buyer was a local farmer, while the underbidder was an agent acting in trust.

Young farmer buys Delvin parcel

The next day, a bungalow residence on 21.2 acres situated in Battstown, Delvin, Co Westmeath, was offered in two lots. The first lot, comprising 21.2 acres of land, attracted bids from four interested parties and later sold under the hammer for €197,000 (€9,300/acre). It’s understood the buyer is a young local farmer – the three underbidders were also local.

The land, which is laid out in two grass fields, came to the market with cattle handling facilities, slatted accommodation and entitlements to the value of €5,000. It was an ideal start-up package for a young farmer. The house on 0.79 acres was withdrawn at auction and is still available.

Tillage farmer secures 73 acres

On the same day, 73 acres of tillage land situated in Glenidan, Collinstown, Co Westmeath, attracted two keen bidders at the auction. After opening at €350,000, the sale price steadily progressed to €540,000 (€7,400/acre), at which stage Potterton dropped the hammer. Both bidders were tillage farmers and living outside the area. However, it’s understood the buyer has property in the area. The farm, which comes with over half a mile of road frontage, comprises 67 acres of tillage and 5.6 acres of pasture. It is laid out in five fields and comes with a derelict stone residence. The guide was €530,000.

Westmeath land makes €7,100/acre

The sale of a 42-acre residential holding situated in Ballynacoska, Castletown Geoghegan, Co Westmeath, went on to surpass expectation at last week’s public auction. The property, which is accessed from a lane, had been rented out for the past 20 years and was described as “good, dry land”. On the day, auctioneer Francis Kearney, Ballinahown, Athlone, offered the property in lots initially, but it was the entire that generated the most money.

The first lot, comprising a derelict cottage on nine acres, was bid to €50,000, while the remaining 33 acres peaked at €165,000. Both lots were withdrawn.

The entire, having opened at €230,000, went to €270,000 on the second round, but was later rounded off to €300,000. With that, Kearney declared the entire on the market and with no further movement, the hammer quickly came down in trust at €300,000 or €7,100/acre.

It’s believed the buyer is not living in the area but has local connections. The two underbidders were local but didn’t adjoin the land.

Six out of six in Roscommon

A 132-acre residential farm situated in Foxboro, Clonahann and Toberory, Tulsk, Co Roscommon, sold in six separate lots at last week’s public auction. Although two lots sold immediately after auction for undisclosed figures, it’s suggested that the entire property made in the region of the €700,000 guide price.

This follows a string of successful public and private sales for auctioneer Tom Cox, Strokestown.

The Tulsk farm, which comprised a mix of good quality grazing and average/poor land, was mostly accessed from a right of way and probably more suited to neighbouring farmers.

At the auction, Cox put up the first and probably best lot of all, comprising 29 acres of good-quality grazing ground. After being declared on the market at €240,000, one more bid of €245,000 saw the hammer fall at €245,000 (almost €8,500/acre) to a neighbouring farmer. The house and yard on 13.5 acres of good- and average-quality land was withdrawn at €100,000, but sold immediately afterwards for a higher figure.

Seven acres of mixed land were knocked down at €36,000, while a further 13.5-acre parcel sold for €67,000. The fifth lot of 27 acres, again of mixed quality, was withdrawn at €100,000, but sold privately afterwards for a higher figure.

The final lot comprising 24 acres, which was liable to flooding, went to the market at €50,000 and later sold for €63,000. Each lot was secured by a neighbouring farmer.

Over €10,000/

acre near

Fourmilehouse

Meanwhile, the same agent recently sold a 42-acre parcel of land situated in Castletauna, Fourmilehouse, Co Roscommon, by private treaty. Described as “excellent quality”, the land had no farm buildings or residence and achieved the upper end of the market. It sold for a figure believed to be in the region of €422,000, or just over €10,000/acre.

CANCELLATION

It’s understood that last week’s auction of an 82-acre farm situated in Ballaghcloneen, Kilmanagh, Co Kilkenny, was cancelled. The property is now for sale by private treaty through Cíllín Hill Auctioneers, Kilkenny.

Wicklow parcel makes €8,000/acre

A 23-acre parcel of grazing ground situated in Knockfadda, Roundwood, Co Wicklow, sold under the hammer last week for €185,000 (€8,000/acre). Currently in grass, the property came with good road frontage and was bought by a local farmer.

On the same day, Clarke Auctioneers, Ashford, offered a 43.3-acre residential farm situated in New Farm, Tomcoyle, Ashford, Co Wicklow, for sale by auction also.

Described as “good quality grazing”, this property came with a 1990s bungalow residence and a range of farm buildings.

It’s understood the property was withdrawn at auction and is currently under active negotiation. It was guided in the region of €500,000 to €600,000 during the selling campaign.