Continued demand for larger pieces of agricultural land in Leinster was evident at an auction in the Glenroyal Hotel, Maynooth, Co Kildare, on Thursday 7 May, when an 80ac farm sold for €2m.

Located at Peacockstown, Ratoath, Co Meath, the non-residential holding was offered in lots by auctioneer Philip Byrne of Coonan Property to a busy auction room.

Lot 1, an attractive 17.5ac single block with good road access, went as far as €410,000.

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Lot 2, a 41ac parcel consisting of six well-defined fields and extensive road frontage, was bid to €750,000. Lot 3, a 21ac plot, was left unbid.

However, it was Lot 4, the entire, which saw the majority of interest.

Opening at €1.5m, it was quickly bid to €1.9m, with three bidders participating in increments of €50,000.

Following a short consultation with the vendors, auctioneer Philip Coonan came back into the room and the bidding increased to €1.95m.

Farming interests

At this stage, the property was withdrawn, and a deal was secured immediately afterwards at €2m to a prominent businessman with farming interests.

The holding appealed to a wide range of buyers from farmers to investors due to its location and possible future potential.

Philip Byrne noted that this sale indicated the continuing strong demand from well-funded buyers for larger agricultural holdings in the Leinster area.

He said: “It’s hard to get big pieces of land, and that’s where the market is.”