DESPITE uncertainties in the agricultural land market, a benchmark sale for a 450-acre farm in Co Meath was realised at auction last week.
Warrenstown Farm, originally part of the Salesian order’s Warrenstown Agricultural College was purchased for €13.5 million by a Wicklow-based farmer.
The auction for one of the largest sales of agricultural land this year was held by Thomas Potterton of TF Potterton and it was initially offered in lots.
When offered in the entire, the sale was almost closed at close to €8m but resumed bidding took the price to €13m, at which stage it was put on the market. A final bid of €13.5m saw the land knocked down to the farmer.
Just 21 miles from Dublin, the farm at Drumree ceased to operate as an agricultural college in 2001, although the Salesian order continues to run a horticultural college in Drumree, Co Meath, and an agricultural college at Pallaskenry, Co Limerick.
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