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Some public auctions are far more eventful than others and some can be just extraordinary. This was the case last week when a super 25-acre non-residential farm at Powderlough, Dunshaughlin, Co Meath sold under the hammer for a substantial €675,000 or exactly €27,000/ac.
The farm was sold to a local dairy farmer, who is believed to be using the farm for silage and heifer rearing. The price was driven up by two very strong underbidders.
Padraig Sherry of Sherry FitzGerald Sherry commented to Irish Country Living after the auction that he was beyond delighted. It isn’t hard to see why. The farm opened its doors at €375,000 or €15,000/ac before rising €300,000 in a short period of time. Bidding was hot; two bidders got involved in the action as the price increased to €490,000 or just under €20,000/ac before Sherry took a break.
The well-attended auction was informed upon resumption that the farm was now on the market and was to be sold. This triggered a second wave of bids, with three farmers (another entered at this point) pushing the price all the way over €600,000 or €24,000/ac and settling on €675,000 or €27,000/ac. The hammer then fell.
“We were absolutely delighted with the successful outcome on the day but was not surprised given that it is a beautiful farm in four nice divisions with substantial road frontage in an excellent location,” Sherry commented.
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