Meath lots sell for €10,000 per acre
TWO lots of a 125ac farm totalling 75ac near Carnaross in Co Meath sold at auction last week making €750,000 or €10,000/ac. A 50ac parcel is under active negotiation on the private treaty market having been bid to €425,000 in public.
The holding is located 6km from Kells and three minutes’ drive from the M3 motorway.
It has been leased out in recent years.
The place was reseeded in the last decade and a parcel of 50ac is presently in tillage. The remainder is in grass.
Describing it as good, flat land with free draining soil, Kells auctioneer Robert Nixon says the farm is well fenced and has good road frontage with plenty of access.
It includes an old single storey dwelling in need of total renovation while other buildings include a slatted shed with accommodation for up to 60 cattle along with a three-column hay shed.
The land is laid out in a range of easily managed divisions while the water supply comes from a private well.
At auction the farm was offered for sale in four lots beginning with a 55.5ac parcel offered with the old house and buildings.
This opened at €400,000 and attracted two bidders before it held at €490,000.
The second lot was next to face the gavel and this consists of 20ac of good quality pasture laid out in one field with ample shelter for livestock and good fencing.
It opened at €100,000 and with two bidders in action rose to €150,000 where it held.
The third lot comprised of 50ac of tillage with extensive road frontage, a four-column bedded shed, a concrete yard and cattle handling facilities.
This brought two bidders to the fore when it opened at €400,000 and was bid to €420,000.
The entire was then offered at €1.06m, the combined price the lots were making. This was bid to €1.07m by a lone bidder and held at that.
Returning to the lots Mr Nixon saw the bidder on the 55.5ac bid against himself and offer €525,000 for the parcel. Lot two, the 20ac held at €150,000 while the 50ac of tillage also held at its last bid of €420,000.
The bidder on the entire withdrew and eventually lot one, the 55.5ac, was bought for €600,000 by a man from the UK with local connections.
The 20ac lot was bought by a local farmer for €150,000 while the 50ac of tillage held at €420,000 and is now for sale by private treaty with active negotiations under way and €425,000 on board.
KILKENNY AUCTION
An 85ac farm at Rathkyle and Toor near Castlecomer in Co Kilkenny sold in its lots and after auction last week reaching its guide of between €6,000 and €6,500/ac.
Located 5km from Ballyragget and 2km from Conahy the land has been rented for a number of years and includes a 78.75ac parcel with an old farmhouse not lived in for more than 10 years.
The lands have extensive road frontage and the yard includes a three-span haybarn, a slatted shed, silage pits and a number of old outbuildings.
The second lot comprised of 7ac has right of way access from the public road.
Auctioneer Godfrey Greene opened proceedings when he got a bid of €350,000 on the 78.75ac parcel.
No other bid was forthcoming and when the 7ac parcel opened at €35,000 it too held.
Mr Greene withdrew the property and both lots sold immediately afterwards in the range of the original guide price, considerably higher price than that offered at auction.