Monday 13 April 2015

Successful Auction held in Carrick on Shannon last week

REA Brady in Carrick on Shannon held two auctions covering 4 agricultural properties on Friday last. Of keen local interest were two properties at Cootehall and one at Croghan. The Auction was held in the Bush Hotel and was very well attended. Proceedings started with a lot of 17.5 Acres at Derrylow, Croghan. Bidding started slowly with the Auctioneer being worked hard to successfully get things moving. Following this slow start matters progressed in bids of €10,000  from €70,000 to €120,000. Following a short recess the property was placed “On the Market” and bidding advanced in bids of  €2000 before concluding at €126,000. The land was purchased by an adjoining land owner and was well received with a loud applause by those attending.

The second lot was 31 Acres of land at Clegna, Cootehall. The bidding on this was quite extraordinary with the winning bidder coming in with a very strong first bid of €180,000. This proved to be effective in knocking out his competition. The property was promptly placed “on the market” and no further competition emerged.

The last lot was 17.3 Acres at Knockadaff,  Cootehall. There was brisk competition for this lot. Bidding started at €100,000 and quickly progressed to €110,000. It then went up in €5000 bids (tit for tat) to €135,000. The reserve having been exceeded it was put on the market and received five further bids bringing the final price to €140,000. The successful bidder was from the Locality.

The last Auction was held in Longford later in the afternoon and was for 31 Acres at Drumbawn, Ardagh, Co. Longford. This was a farm of mixed quality with some good land and portions of lesser quality. This portion achieved €135,000 following competition between a forestry buyer and a local investor.

REA Brady now have contact from several parties who were unsuccessful at these Auctions, whom are funded and wish to acquire land. If you wish to sell your lands, call Joe Brady at REA Brady at 0719622444