43a County Dublin holding exceeds €25k/acre at auction
Marked aerial view of the 43-acre farm at Grange, Ballybough, Co. Dublin. sold at auction recently
Last featured in the Irish Examiner on the 4th of June last, an interesting 43-acre holding at Grange, Ballyboughal, Co. Dublin was sold at auction last week.
The auction took place at the Pillo Hotel in Ashbourne, Co. Meath, with Will Coonan of Coonan Property wielding the gavel.
The holding was interesting, both from an agricultural point of view and a development point of view. With high-quality acreage, this farm is situated in a prime rural setting and yet it also benefits from excellent proximity to Dublin city centre. The property is near the village of Ballyboughal, which is very near Lusk.
“This landholding represents a rare opportunity to acquire a property in a highly sought-after location, with notable future development potential,” as Will put it. “The holding is divided into two distinct lots and comprises good-quality land suitable for a variety of uses including equestrian, agricultural and commercial purposes.”
Lot 1 (6.9 acres). The small portion that has obvious potential development, according to the agents, with access via a right of way to the R108. It opened at €250,000 and closed out at €290,000.
No bids were taken for Lot 2 (36 acres). This is very good quality land that the agents say is suitable for most agricultural uses, with access off a local road connected to the R129.
Lot 3 (the entire 43 acres) was then offered to the room. With 4 active bidders, offers began at €850,000. The property was subsequently put on the market at €1,000,000. The bidding then continued until the gavel fell on a figure of €1,100,000 – purchased by a solicitor from Dublin acting on behalf of a client.
Will Coonan commented afterwards: “It was fantastic to hold an auction with such an excellent outcome, achieving just over €25,500/acre (the pre-auction expectation was ‘in excess of €20k/acre’), following on from strong interest over the marketing campaign and we were delighted to be involved in the sale. We continue to see strong demand for well positioned land holdings in north County Dublin.”
