A 327ac farm in Co Westmeath has sold at auction in lots for €7.96m.
The farm at Annascannon, Killucan, was offered - and sold - in three lots, one of them containing a sand and gravel quarry, an inert waste facility and substantial gravel deposits.
This was the largest lot and contributed most of the sale price. The three lots sold to three different buyers.
The auction was conducted on Friday by joint agents James L Murtagh and RE Thomas Potterton.
Lot 1 opened at €3m. Five bidders then competed for this lot, all of them involved in the quarrying industry or acting on behalf of quarrying interests.
Lot 1 contained the gravel quarry and inert waste facility.
The lot went on the market at €5.3m and was knocked down at €6.5m to a solicitor acting in trust.
Lot 2 was 74ac of agricultural land with frontage on the Royal Canal. It opened at €600,000 and three bidders then competed.
The land was knocked down to a local dairy farming family for €910,000 or €12,300/ac.
The land is in pasture.
Lot 3 was 54ac of agricultural land. It opened at €400,000 and three locals competed, two of them farmers and the third a farmer with agribusiness interests.
Bidding over the phone, he emerged as the winner, buying the land for €550,000 or €10,185/ac.
The auction took approximately one hour to complete.
A 327ac farm in Co Westmeath has sold at auction in lots for €7.96m.
The farm at Annascannon, Killucan, was offered - and sold - in three lots, one of them containing a sand and gravel quarry, an inert waste facility and substantial gravel deposits.
This was the largest lot and contributed most of the sale price. The three lots sold to three different buyers.
The auction was conducted on Friday by joint agents James L Murtagh and RE Thomas Potterton.
Lot 1 opened at €3m. Five bidders then competed for this lot, all of them involved in the quarrying industry or acting on behalf of quarrying interests.
Lot 1 contained the gravel quarry and inert waste facility.
The lot went on the market at €5.3m and was knocked down at €6.5m to a solicitor acting in trust.
Lot 2 was 74ac of agricultural land with frontage on the Royal Canal. It opened at €600,000 and three bidders then competed.
The land was knocked down to a local dairy farming family for €910,000 or €12,300/ac.
The land is in pasture.
Lot 3 was 54ac of agricultural land. It opened at €400,000 and three locals competed, two of them farmers and the third a farmer with agribusiness interests.
Bidding over the phone, he emerged as the winner, buying the land for €550,000 or €10,185/ac.
The auction took approximately one hour to complete.
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