57 acres fetches over €500,000

A 57.1-acre residential holding in the midlands sold for just under €9,000/ acre at public auction last week.

The property, divided into three lots, was based in Walderstown and Corr, both circa 10km from Athlone.

Bidding for lot number one, which is based in Corr, opened up at €140,000. The circa 45-acre property, which has been leased for the last number of years, eventually sold for a solid €190,000. This parcel was bought by a farmer with local connections to the area.

Lot number two, 11.5 acres of good ground suitable for grazing, began bidding at €80,000. The holding, based in Walderstown, peaked at €137,000, at which point the sale was confirmed. Bidding for this parcel was brisk, with two interested local parties competing for the property. The third parcel contained the residential holding and an accompanying 0.6-acre site with a haybarn in Walderstown. Bids opened for the site at €100,000, with bidding halting at €162,000, at which point the property was placed on the market by auctioneer Denis O’Roarke of O’Roarke Bros. The bidding resumed and the hammer finally dropped at €176,000.

The house itself is a three-bed single-storey bungalow built in the 1980s and in need of interior modernisation.

Overall, €503,000 was made for the three lots of what was an estate sale.

withdrawn at €770,000

201 acres at Brackagh, Dalystown, near Mullingar was withdrawn from auction last Friday.

The property reached €770,000 at the time of withdrawal, with the bidding opening at €500,000. Three interested parties guided the sale upwards.

The auctioneer handling the sale, Padraic Murtagh of James L Murtagh, Mullingar, says negotiations are ongoing, with the guide price for the property remaining at €5,000- €5,500/acre. This property could offer good value for money, especially considering that size and quality of the land at Dalystown. For this reason, the upcoming negotiations should be very interesting.

Auction Result 4:

Lively auction sees €9,000/acre for Tullamore holding

A holding in Tullamore exceeded the auctioneers expectations last week as an 83 acre residential property fell under the hammer at €748,000.

The property, located at The Meelaghans circa 2km from Tullamore, was offered in five lots including the entire. In the end, the holding was successfully sold separately in four lots for just over €9,000/acre.

It was the first lot that performed best. Bidding for the residential holding on 21.2 acres opened at €200,000 and didn’t stop until a well performed €356,000 was reached. Originally priced at €250,000, the property was eagerly contested, with up to four bidders and 26 bids placed before the hammer fell on the holding.

The three bed bungalow is accompanied by 21.3 acres of fine agricultural land with duel road frontage onto the Tullamore – Geashill road. The property was bought by Michael Kinsella, an accountant in Tullamore in trust for a local businessman.

The second lot, a circa 43 acre holding of good grazing ground sold for €176,000. Bidding for parcel began at €150,000 and progressed steadily. It is understood that a local family involved in beef finishing purchased the land.

Third parcel sells for €11,600/acre

Local farmers also bought the final two lots offered on the day by GVM Auctioneers in Tullamore. The third lot, a 15 acre parcel flew off the shelves at an impressive €11,600/acre. Bidding opened at €70,000 with the final price settling at €174,000, well above the pre-auction guided price of €110,000. Three interested parties and 15 bids were placed on this holding, which was keenly contested. The land is described as top quality grazing land with complimentary road frontage to R420.

The final lot, a circa 3.5 acre small parcel with road frontage was purchased for a grand €42,000, after bidding opened at €20,000.