Seven local farmers have bought the seven lots at a public auction in Cavan last week. The auction, which was very well attended by 90 people, lasted an hour and a half, as auctioneer John Farrelly patiently went through each lot to find a suiter. With interest in each lot from multiple parties, it was no surprise on the day that each lot sold.

The land itself was of mixed quality, however Irish Country Living understands that each parcel is considered to be good grazing ground, with a bit of work needed.

Lot one

Acres: 35.

Opened at: €150,000.

Sold at: €220,000.

Price/acre: €6,290/acre.

Number of bidders: two.

Bought by: dairy farmer.

Lot two

Acres: 28.

Opened at: €100,000.

Sold at: €137,000.

Price/acre: €4,892/acre.

Number of bidders: two.

Bought by: believed to be a beef farmer.

Lot three

Acres: nine.

Opened at: €35,000.

Withdrawn at: €45,000.

Sold at: €45,000.

Price/acre: €5,000/acre.

Number of bidders: two.

Bought by: local farmer.

Lot four

Acres: 15.

Opened at: €80,000.

Put on market: €100,000.

Sold at: €112,000.

Price/acre: €7467/acre.

Number of bidders: two.

Bought by: local farmer.

Lot five

Acres: 47.

Opened at: €200,000.

Put on market: €270,000.

Sold at: €290,000.

Price/acre: 6,170/acre.

Number of bidders: two.

Bought by: local farmer.

Lot six

Acres: 21.

Opened at: €50,000.

Withdrawn at: €70,000.

Sold at: €90,000.

Price/acre: 4,286/acre.

Number of bidders: two.

Bought by: local farmer.

Lot seven

Acres: 1.6.

Opened at: €8,000/acre.

Put on market: €11,000.

Sold at: €15,000.

Price/acre: 9,375/acre.

Number of bidders: two.

Bought by: neighbouring farmer.

In total, €908,500 was made for the seven lots. The sale was handled by John Farrelly of DNG Royal County, based in Navan in Co Meath. When speaking with Irish Country Living, John said that both he and the family were pleased with the executive sale.

“It was a good auction when it got going. I knew from enquires before the auction that it would end up being bought by locals. The family is very pleased that local farmers have the land,” he explained.

The auction took place in the Bailie Hotel, Bailieborough, Co Cavan. A further 93 acres will be offered in spring on behalf of the family by John.

Early enquires and offers would suggest that this parcel should have no difficulty finding an owner. CL