REA TE Potterton conducted the sale of little and large land holdings in the Royal County on Friday 7 November. The pair of properties sold at a combined public and online auction and showed the appetite for land in the area.
The larger of the two, Knockgrange House, Knockstown, Kilmessan consisted of a 115ac residential farm.
Guided in the region of €14,000 to €15,000/ac ahead of the sale, bidding opened at €1.4m and rose in increments of €50,000 to €1.75m. At this point, a bid of €100,000 came in to make it €1.85m.
Knockgrange House hasn't been lived in for a number of years.
Another bid brought it to €1.9m and a response in the form of a €75,000 bid came in. That proved to be the winning bid, as the farm was out on the market and with no bids forthcoming, Auctioneer Thomas Potterton brought the gavel down at €1.975m.
This equates to €17,174/ac. Competed for in the room and online, the bidder and underbidder were both online. The purchaser is believed to be an investor.
The land is excellent quality and typical of the general Trim area of Co Meath.
Speaking after the sale, Elliott Potterton of REA TE Potterton said: “We were very happy with how things went, €15,000 to €20,000 is the general run of land selling in the Trim area. There were five bidders and all came from different agricultural and equine enterprises. We have four disappointed underbidders who have finances ready to go and are actively looking for somewhere.”
On the same day they sold a 3.7ac parcel of land on the outskirts of Athboy. Guided at €65,000 to €70,000, it sold for
€93,000.
Elliott added: “There’s huge demand for smaller parcels too. Both sales show the strength of the depth that’s within the market.”
REA TE Potterton conducted the sale of little and large land holdings in the Royal County on Friday 7 November. The pair of properties sold at a combined public and online auction and showed the appetite for land in the area.
The larger of the two, Knockgrange House, Knockstown, Kilmessan consisted of a 115ac residential farm.
Guided in the region of €14,000 to €15,000/ac ahead of the sale, bidding opened at €1.4m and rose in increments of €50,000 to €1.75m. At this point, a bid of €100,000 came in to make it €1.85m.
Knockgrange House hasn't been lived in for a number of years.
Another bid brought it to €1.9m and a response in the form of a €75,000 bid came in. That proved to be the winning bid, as the farm was out on the market and with no bids forthcoming, Auctioneer Thomas Potterton brought the gavel down at €1.975m.
This equates to €17,174/ac. Competed for in the room and online, the bidder and underbidder were both online. The purchaser is believed to be an investor.
The land is excellent quality and typical of the general Trim area of Co Meath.
Speaking after the sale, Elliott Potterton of REA TE Potterton said: “We were very happy with how things went, €15,000 to €20,000 is the general run of land selling in the Trim area. There were five bidders and all came from different agricultural and equine enterprises. We have four disappointed underbidders who have finances ready to go and are actively looking for somewhere.”
On the same day they sold a 3.7ac parcel of land on the outskirts of Athboy. Guided at €65,000 to €70,000, it sold for
€93,000.
Elliott added: “There’s huge demand for smaller parcels too. Both sales show the strength of the depth that’s within the market.”
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