Raymond Potterton’s offices in Navan, Co Meath were busy on the last week of November as a pair of non-residential farms in the northeast were auctioned off, both in the premises and online on the LSL auctions platform.
The larger of the two, a 29.4ac holding at Deredis, Farnham, Co Cavan sold on Thursday 27 November and resulted in a full auction room.
Bidding opened at €330,000 for the farm, which is less than five minutes’ drive from the centre of Cavan town.
It rose steadily in increments of €5,000 and €10,000 with all bids in the room, until it reached €395,000.
Following consultations with the vendors, it was put on the market and that’s when the room caught fire as bidders that weren’t previously involved, joined the fray. There were six parties in the auction and bidding was reported as rapid until it reached €505,000.
This property was sold, in-room to a buyer with farming interests, for €2,000/ac over its pre-sale guide price.
The sale of the Cavan land followed the auction of a 17.3ac non-residential parcel of land in the Royal County two days earlier on Tuesday 25 November.
The land at Kilberry, Navan, Co Meath sold at auction at the end of November.
Located at Kilberry, Navan, Co Meath, it sold for €295,000 (€17,052/ac), marginally above its guide price of €17,000/ac. There were a number of bidders active, both in the auction room and online. It opened at €230,000 and after bidding back and forth, it reached €295,000 at which point it was put on the market.
“With no further bids, the gavel was brought down. This land was purchased in-room by an agricultural buyer.
Following both auctions, Sean McRedmond of Raymond Potterton said: “These auctions show the demand that is out there for parcels of land under 40ac or 50ac. There was strong interest and there are plenty of disappointed underbidders who are on the lookout for these types of properties.”
Raymond Potterton’s offices in Navan, Co Meath were busy on the last week of November as a pair of non-residential farms in the northeast were auctioned off, both in the premises and online on the LSL auctions platform.
The larger of the two, a 29.4ac holding at Deredis, Farnham, Co Cavan sold on Thursday 27 November and resulted in a full auction room.
Bidding opened at €330,000 for the farm, which is less than five minutes’ drive from the centre of Cavan town.
It rose steadily in increments of €5,000 and €10,000 with all bids in the room, until it reached €395,000.
Following consultations with the vendors, it was put on the market and that’s when the room caught fire as bidders that weren’t previously involved, joined the fray. There were six parties in the auction and bidding was reported as rapid until it reached €505,000.
This property was sold, in-room to a buyer with farming interests, for €2,000/ac over its pre-sale guide price.
The sale of the Cavan land followed the auction of a 17.3ac non-residential parcel of land in the Royal County two days earlier on Tuesday 25 November.
The land at Kilberry, Navan, Co Meath sold at auction at the end of November.
Located at Kilberry, Navan, Co Meath, it sold for €295,000 (€17,052/ac), marginally above its guide price of €17,000/ac. There were a number of bidders active, both in the auction room and online. It opened at €230,000 and after bidding back and forth, it reached €295,000 at which point it was put on the market.
“With no further bids, the gavel was brought down. This land was purchased in-room by an agricultural buyer.
Following both auctions, Sean McRedmond of Raymond Potterton said: “These auctions show the demand that is out there for parcels of land under 40ac or 50ac. There was strong interest and there are plenty of disappointed underbidders who are on the lookout for these types of properties.”
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