€44k an acre for 36-acre holding on Drogheda outskirts
The property is laid out in two large divisions and enjoys extensive road frontage onto Colpe Road — connecting the Dublin Road at Southgate Shopping Centre and Donacarney/Bettystown beyond.
Coming up for online public auction on Thursday March 14 next on BidNow.ie is a 35.7-acre parcel of high-quality land located on the outskirts of Drogheda, Co Louth.
According to Drogheda-based auctioneer Gabriel O’Brien of REA O’Brien Collins, these tillage lands are of excellent quality, but their location gives them undeniable commercial potential too.
“These lands are un-zoned at present, but the long-term development potential of the lands cannot be overlooked,” Mr O'Brien said.
The southside Drogheda location adjoins the housing estate of Mornington Park and it is also adjacent to the Maydenhayes new homes scheme, which was completed only a few years ago.
“We think that it will be of interest to investors seeking a farm income in the short to medium term, but with an eye to the longer term when one considers that one is buying land on the edge of the county’s largest town,” said Mr O'Brien.
The property is laid out in two large divisions and enjoys extensive road frontage onto Colpe Road — connecting the Dublin Road at Southgate Shopping Centre and Donacarney/Bettystown beyond.
“The lands are generally level in nature, and the local road infrastructure has greatly improved recently, with new Mill Road Roundabout having been constructed together with an improved and widened connecting roads to the immediate area… as well as that, the property is within easy reach of an excellent choice of primary and secondary schools, in addition to a wide range of retail facilities on the south side of Drogheda and at Bettystown to the east,” Mr O'Brien said.
At €1.6m (€44,000/acre), the price guide is fittingly strong and it would be a brave wager to bet against it going higher than that figure.
Indeed, one need look no farther back in time than the last quarter of 2023 for another property to compare it with in terms of value. In the townland of Kiltrough — just a short distance away from this property – a 30.76-acre farm was sold in November for a price of €1.37m, or €44,538/acre.
