REA O’Brien Collins have just brought circa 35ac of land on the southern outskirts of Drogheda, Co Meath to the market.

The land at Colpe east is in one block and will be sold by online auction in mid-March.

This farm is laid out in two large fields that have been used for tillage purposes and it has excellent road frontage.

While this land isn’t zoned for housing at present, given that it is adjacent to a pair of housing developments completed in recent years, the long-term development potential cannot be overlooked.

Reserve price

That is factored into its reserve of €1.6m. That equates to approximately €44,400/ac, an extremely high price for agricultural land.

There is a recent precedent. Towards the end of 2023, the Co Louth auctioneers sold a similar-sized farm less than 2km away from this offering for €1.37m. That equated to €44,538/ac for circa 30ac at Kiltrough.

This sale is likely to attract investors that may consider seeking an agricultural rental income with an eye towards a residential future.

The auction takes place on from 11am to 12 noon on Thursday, 14 March.