A 48ac block of tillage land in north Co Dublin sold by auction this week for €1,275,000 or €26,500/ac.

The land at Kilmartin, Mulhuddart, was sold in an online auction by Coonan Property.

The result is another indication that the farmland market has opened strongly in 2021.

While the land is within a few kilometres of suburbs and commercial parks of north Dublin, it is not zoned for building development and does not have any planning permissions.

It is on the boundary of the 2017-2023 Fingal Development Plan.

The holding is currently in stubble, is in four fields and has a hayshed with lean-to.

Reserve

Three active bidders took part in the auction, one a farmer and the other two business entities.

After reaching the reserve of €960,000, the property went on the open market and sold at €1,275,000.

It was bought by one of the commercial bidders.

Commenting after the sale, auctioneer Philip Byrne of Coonan Property said: “The demand for well-located farms continues to be very keen where investors, developers and farmers see land as a good place to invest in the current climate.”