The two large farms near Fourmilehouse in Co Roscommon that came to the market earlier this year have been auctioned last week.

The 168-acre farm, which few holdings matched in terms of quality in the county in 2018, sold under the hammer for €1.8m, or €10,700/ac, in an auction where little or no shadow-boxing was seen.

The 150-acre farm in Grange, Fourmilehouse, sold under the hammer for a reasonable €830,000, or €5,500/ac.

Both auctions took place in Roscommon town last Wednesday.

168-acre farm sells for €10,700/ac

The first of the two farms to be auctioned on the day was the superb 168-acre farm in Rathconnor near Fourmilehouse, Roscommon. Without an inch of waste and circa €500,000-worth of sheds, this farm was put to the market by private treaty earlier this year.

It is believed a sale was close during the year, however it fell through. When it re-emerged on the market, the level of interest in it meant that auction was an obvious choice. The rest, as they say, is history.

Four bidders battled it out for the Rathconnor farm, while according to John Earley, the land agent, there were about six parties at the auction who were interested. Along with the 20 enquiries pre-auction, it was little surprise proceedings went the way they did.

The farm opened at €1.2m, or €7,150/ac, and took 12 bids before arriving at €1.8m, or €10,700/ac. After a quick consultation with the vendor, it was placed on the market and sold under the hammer.

Earley, who was pleased with the first of his auctions on the day, said that there was a positive vibe in the room. The price achieved is well above the average price of agricultural land in Roscommon, with last year’s price €6,100/ac in the county.

What this sale proves is the market for good-quality farms with large acreages is strong at the moment. It was bought in trust by Michael Ryan, a Laois solicitor.

The 150 acres at Grange, Fourmilehouse, Co Roscommon sold for €830,000, or €5,500/ac.

€5,500/ac for 150 acres

The second of the farms to be auctioned in Roscommon Town was the 150 acres at Grange, Fourmilehouse. Located just 7km from Rathconnor, both are situated in a well-renowned area.

Opening at €600,000, or €4,000/ac, the farm went up in bids of €25,000 with the help of four bidders. Placed on the market at €810,000, or €5,400/ac, Earley took a few more bids before the gavel fell at €830,000, or €5,500/ac.

This farm was also bought in trust, this time by a Boyle solicitor, Michael O’Dowd.