The guide price really said it all when auctioneer Eamon O’Flaherty from Property Partners Brady, Maynooth, quoted €24,000/acre for a 24-acre residential holding at Moyglare, Maynooth, Co Meath, prior to auction.
It was clear that given the prime location, just over a mile north of Maynooth, coupled with its positioning in the heart of some of the top stud farms in the country, this holding wasn’t going to be bought for an “average” price.
The fact that there were six active bidders in the room at last week’s auction not only demonstrates the buoyant appetite for small, well-located holdings, but also highlights that this appetite is backed up by plenty of purchasing power.
On the day, bidding opened at €300,000 and swiftly jumped to €600,000 with the help of six active bidders. Not stopping there, the momentum continued all the way to €670,000 when the hammer finally fell to a neighbouring farming/business family. This works out at almost €28,000/acre, which certainly presents a strong precedent for the area.
Eamon O’Flaherty from Property Partners Brady explained: “This farm attracted tremendous pre-auction interest, with enquiries from neighbouring farmers, the equestrian industry and hobby farmers. Indeed, we also had enquiries from two ex-pats in the UK wishing to return home”.
Formerly a land commission farm, the land at Moyglare is laid out in three fields of old pasture which could benefit from some investment, while the residence is a 60-year-old single-storey three-bedroom farmhouse in need of total refurbishment. Although the house needs a lot of work, O’Flaherty said that its presence was significant in terms of securing planning for a replacement house into the future.
The guide price really said it all when auctioneer Eamon O’Flaherty from Property Partners Brady, Maynooth, quoted €24,000/acre for a 24-acre residential holding at Moyglare, Maynooth, Co Meath, prior to auction.
It was clear that given the prime location, just over a mile north of Maynooth, coupled with its positioning in the heart of some of the top stud farms in the country, this holding wasn’t going to be bought for an “average” price.
The fact that there were six active bidders in the room at last week’s auction not only demonstrates the buoyant appetite for small, well-located holdings, but also highlights that this appetite is backed up by plenty of purchasing power.
On the day, bidding opened at €300,000 and swiftly jumped to €600,000 with the help of six active bidders. Not stopping there, the momentum continued all the way to €670,000 when the hammer finally fell to a neighbouring farming/business family. This works out at almost €28,000/acre, which certainly presents a strong precedent for the area.
Eamon O’Flaherty from Property Partners Brady explained: “This farm attracted tremendous pre-auction interest, with enquiries from neighbouring farmers, the equestrian industry and hobby farmers. Indeed, we also had enquiries from two ex-pats in the UK wishing to return home”.
Formerly a land commission farm, the land at Moyglare is laid out in three fields of old pasture which could benefit from some investment, while the residence is a 60-year-old single-storey three-bedroom farmhouse in need of total refurbishment. Although the house needs a lot of work, O’Flaherty said that its presence was significant in terms of securing planning for a replacement house into the future.
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