Longford farm makes €8,500/ac

A 27-ACRE residential farm in Longford was recently sold in lots by Murtagh Bros, making €232,000.

Located 2km west of Newtownforbes and 7km from Longford Town, the holding includes a derelict residence, a wide range of farm buildings and has excellent road frontage.

The house is an early example of the type of rural bungalow built between the 1960s and the 1980s. Structurally sound, it needs renovation.

The yard is made up of a range of old sheds, including a two-column hay barn with lean-tos at either side, while the land is in a series of fields fenced with mature hedgerow with plenty of road frontage.

In the first round of bidding, the residence on c.5.5ac opened at €40,000 and rose to €87,000. The second lot of c.7.5ac opened at €30,000 and was bid to €57,000, while a 14ac piece opened at €50,000 and was bid to €75,000.

There was no interest in the entire as a single lot and in a second round of bidding, the first lot increased to €92,000, the second rising to €63,000 and the third to €79,000.

After discussion with the vendors, the lots were placed on the market where the first parcel sold at €92,000. The second increased marginally to sell at €65,000 and the third remained unchanged to sell at €79,000. The property sold to local bidders.