Roscommon farmland prices may have a new record following the sale of a 27.9ac block of land at Faltia, Oldtown, Ballydangan.

It achieved €700,000 at public and online auction on Tuesday 25 November. This equates to €25,090/ac.

Described as a choice holding in a strong farming district, the land, which is convenient to Ballinasloe and Athlone, was auctioned in Gullanes Hotel, Ballinasloe.

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It was an executor sale that was handled by Ballinasloe-based Joseph Naughton Auctioneer, Ballinasloe.

Consisting of 27.5ac and offered in two lots, the non-residential holdings were guided at between €570,000 and €650,000 ahead of the auction.

There were four bidders involved for lot 1, 15.4ac, at Faltia and after competitive bidding between four bidders, the gavel fell at €390,000, with a farmer who had rented the land for a long time ultimately being successful.

Lot 2, 12.6ac at Tully, was a two-way shoot-out and was purchased by an adjoining farmer for €310,000.

Residence

Along with the land there was a residence on 0.75ac, which was knocked down at €105,000 to a buyer with connections to the executor’s family. There was also a portion of 12.7ac of bogland included in this farm and this was sold ahead of the auction.

There had been strong land prices in the area in recent years with a then-record price of €18,500 /ac achieved in early 2023.

Following the sale, auctioneer Joseph Naughton said: “You wouldn’t hear of €25,000/ac for Roscommon land too often, but this is a real farming stronghold with progressive farmers in the area and that was reflected in the auction.

"It was eagerly anticipated in the area for the run-in to it and the interest expected appeared on the day with six bidders in all. We had disappointed under-bidders who have finance and are ready to go, so it shows the demand that’s out there.”