A 74ac non-residential farm in Co Meath exceeded expectations as it sold at public auction in the Ardboyne Hotel, Navan, on Wednesday 25 February.

Listed with Navan-based T&J Gavigan Estate Agents & Valuers, the gavel fell on the holding at Butlerstown, Castletown, Co Meath, at €1.37m.

This equated to €18,513/ac, surpassing its guide price by over €6,500/ac.

An opening bid of €900,000 meant the property had reached its guide price as proceedings started and bids in increments of €50,000 saw it reach €1.35m, at which point auctioneer Michael Gavigan consulted the vendors.

He returned declaring the property on the market and a final bid of €20,000 saw the gavel come down at €1.37m.

The purchaser was a local farmer, with another local farmer the underbidder.

Following the auction, Michael said: “This strong result underlines the continued robust demand for top-quality agricultural land in Co Meath. It was a farm that attracted strong attention ahead of the sale from both local and regional farmers and investors.”

Described as top-quality land that was used for tillage in recent years, the land was in one convenient roadside block.

Laid out in two well-proportioned fields with mature trees and hedgerows on the boundary of it, it has a pair of gates that give access from the road.

There is about 600m of road frontage with the property on to a local road. With a number of one-off houses close by, there could be an opportunity for the new purchaser to seek planning for a dwelling on the land, subject to necessary permissions.

Located in a rural area just off the R162, it is about 5km south of Nobber. The N52 road is also within close proximity, which means both Kells and Navan can be reached within 15 to 20 minutes’ drive of the holding.