Global interest in Dublin farm drives price to €51,000/ac

DUBLIN land is continuing to make strong prices with a 10ac parcel in D24 making €51,000/ ac at auction.

Meanwhile, a parcel of 25ac of tillage land at Barnageeragh, Skerries, Co Dublin, sold under the hammer last week for €335,000 or €13,500/ac.

The parcel of ground at Glenasmole (below) in the Dublin Mountains is located about 10 minutes from Firhouse and the M50

It sold under the hammer of Eamon O’Flaherty of Property Partners Brady, Maynooth, making €510,000 or more than two and a half times its guide price. At €51,000/ac this is sure to be among the record land prices for 2017.

Located in Dublin 24, beyond Bohernabreena Cemetery, the property consists of an old stone cottage and outbuildings in poor shape, while the land is rough mountain grazing. The location is everything; close enough to the metropolis yet beautiful and wild with magnificent views, nice trees and set in the remains of a traditional haggard.

Almost 50 people turned up for the auction and eight bidders showed interest when bidding opened at €150,000. The price rose in tranches of €10,000 until it reached €310,000, at which point Eamon O’Flaherty consulted with the vendors and it was decided to put the property on the market. Bidding continued briskly after that, with three determined customers in contention. The trio followed proceedings to the end until the hammer fell at €510,000 and the place was bought by an adjoining landowner.

“This was a unique property,” said O’Flaherty after the auction. “It attracted interest from all over the world.” The sale was handled in association with consultant Sean Doyle.

Meanwhile, the land at Barnageeragh near Skerries is described by Pat O’Hagan of Savills as superb early land. Overlooking the town and sea, the holding is surrounded by good farming country.

At auction, it attracted four bidders when it was offered in two lots of 15.8ac and 9.5ac respectively or as an entire. The 15.8ac was bid to €130,000 by a single bidder, while lot two opened at €100,000 and with two bidders in action, it was bid to €140,000.

With a combined €270,000 on board, one bid of €280,000 opened the entire and this was bid to €305,000. The first lot was then bid to €170,000, while the second lot held at €140,000. This made a total of €310,000. At this point, the entire took over again and was eventually put on the market at €335,000 and sold at that.