Strong demand at auction for Meath and Westmeath land

Thomas Potterton of REA TE Potterton auctioneers had a successful week, with a total of over 100 acres sold at auction. First up was a lovely circa 27 acre non-residential farm at Summerstown, Trim. Located in one block, it was laid out in three divisions – all currently in permanent pasture.

It is well located just off the main trim to Summerhill road, approximately 5km from Trim, and came with good road frontage.

Bidding on the day opened at €200,000, with three bidders quickly becoming two. Active bidding saw the property rise to €280,000, at which point it was placed on the market. The hammer then dropped at €280,000, with the buyer believed to be a family from Co Leitrim.

Elsewhere, Potterton also brought a 70-acre residential package at Clonleame and Clonmorrill, Delvin, Co Westmeath, to auction last week. Due to the fragmented nature of the property, it was offered in three different lots. The first lot of the residence on circa 36 acres never made it to the auction floor, with a deal struck beforehand. The residence is a two-storey farmhouse that is in need of major renovations. The lot was guided between €250,000 and €300,000 prior to the auction and it is believed to have been sold in this region.

The second lot on offer was a small circa four-acre parcel. This was opened at €15,000 and two interested parties saw this lift to €36,000. At this point it was placed on the market, with the hammer dropping at the same price. It is believed to have been purchased by an adjoining farmer.

The third and final lot consisted of a circa 30 acres, laid out in three fields. Described as good grazing ground, it will benefit from some tidying up as it has been let out for the last 10 years.

Again it was two main bidders that went head to head at the auction. Bidding opened on the lot at €150,000. The price quickly progressed to €181,000, at which point it was placed on the market. It was then knocked down for this price, making in excess of €6,000/acre. This lot was guided at €6,000 to €7,000/acre prior to the auction.

Mixed fortunes in Mayo

It was a sale of two halves for selling agent Joseph A Mellett when he brought a 31-acre residential farm to auction last week. The property was offered in two separate lots or in the entire, with the interest on the day for the lots.

The first lot encompassed a two-bed bungalow, in need of some attention on circa 16 acres. There was good interest in the lot, with the property being placed on the market at €201,000. Further bidding saw the hammer drop at €212,000 in front of a packed auction room. This lot was guided at €200,000 prior to the auction.

Lot two of circa 15 acres did not prove as successful and was only bid to €50,000. At this point it was withdrawn and private negotiations have been ongoing with several parties to try and reach the €75,000 guide price that was set prior to the auction.