A local farmer secured the sale of a 227-acre residential farm at Derrynagarragh and Tuitestown, Collinstown, Co Westmeath, at last week’s public auction.

One of the biggest to arrive on the market in Westmeath so far this year, the Derrynagarragh farm came to the market with a derelict two-storey house, some traditional outhouses, two holding pens and 227 acres of land ranging from flat to elevated.

At the auction, Paul Murtagh from Murtagh Bros, Mullingar, initially offered the property in four separate lots that included the house and yard on circa 39.5 acres, which was bid to €350,000; the largest lot comprising 187 acres peaked at €720,000; a further circa 11 acres went to €78,000 while 16 acres of marginal ground was bid to €50,000. There was no bid for the 161-acre lot.

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With that, the entire opened at €1m and moved in €50,000 increments to €1.3m, at which stage, Paul declared the farm on the market. With no further movement, the hammer quickly fell at €1.3m(€5,700/acre) to a local farmer. The underbidders on the entire included a person from Northern Ireland and a Co Laois buyer.

Unspoilt and untouched for decades, Derrynagarragh was used to graze beef cattle down through the years but hasn’t been farmed intensively for a long time.

Nonetheless, it would be renowned in the area for its fattening abilities and, judging from some of the fine farms in the area, has the capacity to be brought back into full production with the help of some investment.

It was guided in the region of €1.2m prior to auction.

Laois holding sells in lots for €429,000

A 45-acre residential holding at Tarbert and Trumera, Abbeyleix, Co Laois, sold in four lots at last week’s public auction for a combined total of €429,000.

Before a packed room in the Manor Hotel, Abbeyleix, the first lot, comprising a three-bed cottage residence on 20.36 acres, sold for €140,000; a 3.6-acre field across the road made €52,000; a 20-acre parcel at Tarbert was knocked down to an adjoining farmer for €200,000 while the final lot, comprising the yard on 1.16 acres, sold for €37,000. This gave a combined total of €429,000 or an average of €9,500/acre. All four buyers were locals. With the exception of nine acres, the land was described as “mostly of very good quality”. Jordan Auctioneers, Newbridge, handled the sale.

Tipperary parcel averages €8,000/acre

Donovan Auctioneers, Tipperary town, sold a 28.6-acre residential holding at Turagh, Cappamore, Co Limerick, in two lots for a combined figure of €287,500.

The first lot comprising circa 27.5 acres opened at €150,000 and was bid all the way to €215,000 with the help of two active bidders.

After consultation with the vendor, it was decided to put the land on the market at €215,000 and one more bid secured the sale for a local farmer at €220,000. This works out at circa €8,000/acre.

The second lot comprising the farmhouse on an acre sold for €67,500.

The land included a small limestone quarry and extended down to a stream.

Talks continue for 30-acre parcel near Gorey

It’s understood that a 30-acre non-residential parcel of land at Ballylusk, Monaseed, Gorey, Co Wexford, was withdrawn at €200,000 at last week’s public auction.

Selling agent David Quinn, Carnew and Gorey, is currently in negotiations with some interested parties and is hopeful of agreeing a sale. The property, which is accessed up a lane, features circa 22 acres of reasonably good land and was guided in the region of €7,000 to €8,000/acre prior to auction.