Monday 30 April 2012

TWO FARMS SOLD FOR €1,000,000 by REA Coonan

REA Coonan Maynooth and Celbridge have recently completed the sale of 2 farms, 1 in Co. Meath and the other in Co. Westmeath. A non-residential 52 acre farm at Mayne, Clonee was offered for sale by auction and sold under the hammer for €600,000 i.e. €11,500 per acre. It was an extremely active auction with 5 bidders, 3 of which were locals competing against each other after an opening bid of €480,000. The property was put on the market at €600,000 and then sold under the hammer. The lands were of excellent quality and had generated considerable interest prior to the auction date. Willie Coonan commented that it was a sign that land prices were hardening and he anticipated that prices would continue to increase during the course of this year. REA Coonans also sold jointly with REA TE Potterton, Trim, 90 acres at Castletown Finea, Mullingar, Co. Westmeath at auction for €402,000. With a packed auction room the bulk of interest was in the entire property with opening bids at €220,000. Four bidders battled it out up to €385,000 and at this stage the vendors instructed to put the property on the market. Two bidders continued until the property was sold. The buyer was a farmer from the Cavan area. The lands were partly in forestry with the remainder in grass. The property also had the benefit of some gravel deposits and planning permission for a substantial detached property