Wednesday 18 December was fruitful for auctioneers James L Murtagh, who sold a pair of residential farms within 6km of each other in the Delvin area of Co Westmeath.
Taking place in person in the Greville Arms Hotel, Mullingar, and online on the LSL Auctions platform, the sale of both was much anticipated and they delivered too, with one of the properties selling for €25,000/ac.
That was the final price for a 58ac residential farm at Crowenstown and there were five bidders in the mix throughout.
In advance of the sale, the property was guided at around €1m, with Lot 1, the house and 8.5ac, accounting for €375,000 of that figure and the balance of the land guided at €13,000/ac.
The 58ac residential farm at Crowenstown, Delvin, Co Westmeath, exceeded expectations when it sold at auction last week.
Proceedings kicked off with Lot 1 opening at €300,000 and with no further bids arising, auctioneer Padraic Murtagh began taking bids for Lot 2, consisting of 49.5ac.
That opened at €500,000 and two bids of €25,000 brought it to €550,000. He then began taking bids on the entire and this opened at €850,000 and one bid of €25,000 was placed on it.
Following this there was a second round of bidding on the lots and Lot 1 was bid to €325,000 and Lot 2 to €650,000.
This meant when it came to the entire, a bid greater than €975,000 was required and a bidder duly obliged with a bid of €1m on it.
From there the auction took off and over a short space of time, it reached €1.225m, at which point a break to consult the vendors was taken. Following the recess, Lots 1 and 2 were withdrawn and the entire was placed on the market.
Five bids flew on as it reached €1.3m and from here the bids continued in increments of €10,000 before auctioneer Padraic Murtagh brought the gavel down at €1.45m.
This equates to €25,000/ac. The Irish Farmers Journal understands that the land was purchased by a solicitor in trust for a client. All the underbidders were farmers.
Ballyhealy farm
Earlier that afternoon, the Mullingar-based auctioneers brought the hammer down on a 107ac residential farm in the same vicinity.
A bungalow is the principal residence at Ballyhealy, but there is also an older stone-built former dwelling on site.
Located south of the N51 road and described as one of the finest farms to come on the market this year, the land at Ballyhealy, Delvin, Co Westmeath, was used as a tillage and grassland farm in recent years, but was previously a dairy enterprise.
All in one block and with a bungalow with five bedrooms and an old dwelling in a yard with an array of sheds, it was guided at €1.6m ahead of sale.
The house and yard at Ballyhealy are centrally placed on the property.
An executor sale, bidding opened at €1m and a number of bids in increments of €50,000 slowly brought it up to €1.2m whereon the pace picked up, with three active bidders.
In the space of little over a minute, it reached €1.65m before a recess was taken. Following this, it was put on the market and three further bids were placed before Padraic Murtagh brought the gavel down at €1.725m. This equates to €16,122/ac.
An auctioneer purchased the property on behalf of a client believed to be a farming family, while the two underbidders were also farmers.
Wednesday 18 December was fruitful for auctioneers James L Murtagh, who sold a pair of residential farms within 6km of each other in the Delvin area of Co Westmeath.
Taking place in person in the Greville Arms Hotel, Mullingar, and online on the LSL Auctions platform, the sale of both was much anticipated and they delivered too, with one of the properties selling for €25,000/ac.
That was the final price for a 58ac residential farm at Crowenstown and there were five bidders in the mix throughout.
In advance of the sale, the property was guided at around €1m, with Lot 1, the house and 8.5ac, accounting for €375,000 of that figure and the balance of the land guided at €13,000/ac.
The 58ac residential farm at Crowenstown, Delvin, Co Westmeath, exceeded expectations when it sold at auction last week.
Proceedings kicked off with Lot 1 opening at €300,000 and with no further bids arising, auctioneer Padraic Murtagh began taking bids for Lot 2, consisting of 49.5ac.
That opened at €500,000 and two bids of €25,000 brought it to €550,000. He then began taking bids on the entire and this opened at €850,000 and one bid of €25,000 was placed on it.
Following this there was a second round of bidding on the lots and Lot 1 was bid to €325,000 and Lot 2 to €650,000.
This meant when it came to the entire, a bid greater than €975,000 was required and a bidder duly obliged with a bid of €1m on it.
From there the auction took off and over a short space of time, it reached €1.225m, at which point a break to consult the vendors was taken. Following the recess, Lots 1 and 2 were withdrawn and the entire was placed on the market.
Five bids flew on as it reached €1.3m and from here the bids continued in increments of €10,000 before auctioneer Padraic Murtagh brought the gavel down at €1.45m.
This equates to €25,000/ac. The Irish Farmers Journal understands that the land was purchased by a solicitor in trust for a client. All the underbidders were farmers.
Ballyhealy farm
Earlier that afternoon, the Mullingar-based auctioneers brought the hammer down on a 107ac residential farm in the same vicinity.
A bungalow is the principal residence at Ballyhealy, but there is also an older stone-built former dwelling on site.
Located south of the N51 road and described as one of the finest farms to come on the market this year, the land at Ballyhealy, Delvin, Co Westmeath, was used as a tillage and grassland farm in recent years, but was previously a dairy enterprise.
All in one block and with a bungalow with five bedrooms and an old dwelling in a yard with an array of sheds, it was guided at €1.6m ahead of sale.
The house and yard at Ballyhealy are centrally placed on the property.
An executor sale, bidding opened at €1m and a number of bids in increments of €50,000 slowly brought it up to €1.2m whereon the pace picked up, with three active bidders.
In the space of little over a minute, it reached €1.65m before a recess was taken. Following this, it was put on the market and three further bids were placed before Padraic Murtagh brought the gavel down at €1.725m. This equates to €16,122/ac.
An auctioneer purchased the property on behalf of a client believed to be a farming family, while the two underbidders were also farmers.
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