Brace of Dublin/Meath holdings fetch over €2m each at auction
The 144-acre holding at Grange was sold to a local businessman.
Maynooth-based Coonan Properties recently conducted the auction of two properties in Dublin and Meath, totalling over 187 acres of quality agricultural land, with exceptional results.
The auction took place on October 22 at Dunboyne Castle Hotel, Dunboyne, Co Meath.
The first farm up was a 144-acre holding at Grange, The Naul, Co Dublin. Featuring top-quality lands in both tillage and grass, the pre-auction expectation was “in excess of €2m (€17,500/acre)”.
“The properties were offered to a packed room,” says auctioneer Will Coonan. “Bidding opened for this prime farmland at €2m, with bidders taking it to €2,725,000.”
There then followed a recess as the auctioneer took instructions from the vendor. Following the interval, the property was announced on the market, and further bids brought the value up to €2,775,000 (€19,300/acre), at which point it was sold to a local businessman.
There was a brief interval before the next property was presented for sale. Totalling 43.4 acres, it enjoyed a huge amount of road frontage, located just off the M3, at Piercetown, County Meath.
Two residences gave it an additional edge in terms of demand. It was evident, the auctioneers say, in the brisk bidding that ensued once the separate lots were offered to the room.
Lot 1 (Black Bull House on 11.8 acres) began at €400,000, quickly reached the point of being on the market at €480,000 and sold at €795,000 to a local agent acting on behalf of a client.
Lot 2 (derelict residence on 8.7 acres) opened at €200,000. It was on the market at €400,000 and sold at €705,000 — also to a local agent on behalf of a client.
Lot 3 (12.9 acres) began at €250,000, was on the market at €300,000 and sold at €430,000 to a local agent.
Lot 4 proved the most popular. Consisting of 10 acres of grassland, it went on the market at €250,000 and after a flurry of bids, a local landowner had the final say on a price of €490,000.
With a combined per-acre price of €55,000/acre, it was a very satisfactory result.
