Last week’s auction of a 43-acre non-residential farm at Collistown, Dunboyne, Co Meath, certainly attracted significant interest. With over 40 people in attendance and five active bidders, there was a strong series of bidding in the auction room. Bidding opened at €300,000 and quickly moved on in increments of €10,000 and €5,000 between four bidders, including a local estate agent, until it reached €425,000. At this stage auctioneer Eamon O’Flaherty of Sherry FitzGerald Brady O’Flaherty adjourned proceedings for a brief consultation with the vendor.

Bidding takes off

Once the auctioneer re-entered the room, the property was placed on the market. As is so often the case, once this happens the action heats up. A new bidder entered the race and following some 28 bids, the gavel finally fell at €520,000, or almost 12,100/ac. According to the auctioneer, the successful bidder is understood to be a young, local, professional gentleman with farming interests while the eventual underbidder was a local farmer. The guide prior to auction was €400,000, or €9,300/ac.

Executor sale

The executor sale was on behalf of the late Frank O’Donnell who was, in the words of O’Flaherty, “one of south Co Meath’s staunchest Fianna Fáil supporters and a well-respected member of the local farming community”.

When speaking with O’Flaherty, he said it was no surprise the farm performed strongly, given the level of interest in it prior to the public auction.

“This farm attracted significant pre-auction interest, with over 50 enquiries received locally and abroad,” the auctioneer said.

“The location and overall quality of the lands were the key selling features. While another obvious attraction of the farm is the potential of constructing a residence, obviously subject to receiving the necessary planning permission.”

The farm itself was all in grass in seven, good-sized fields, together with a circa two-acre woodland in the centre of farm. The farm itself was in need of some investment in terms of fencing and general maintenance, but that being said it had potential.

The farm was sold in association with Sean Doyle Agricultural Property Consultant.