ASHBOURNE FARM SELLS FOR OVER €4M

ASHBOURNE FARM SELLS FOR OVER €4M
In one of the strongest prices to be paid for a large farm, €24,000/ac was bid for a 152ac residential holding near Ashbourne in Co Meath Primrose Park Farm at Greenogue, Kilsallaghan was sold as an entire under the hammer of Savills auctioneers for €4.1m

In the course of the auction the house and yards on 2.5ac were making €520,000, which means the remaining 149.5ac of farmland can be valued at €24,000/ac.

Situated 5km from Ashbourne and 8km from Ratoath, the property includes a modern two-storey farmhouse with farm buildings and frontage on to three roads/

Primrose Park is located between Ashbourne and Ratoath

It is tilled from boundary to boundary and currently planted in winter crops.

The house is 2,583 sq ft

Outbuildings include a garage and a traditional yard with a partly enclosed five-column haybarn with lean-tos, an A-roofed, four-column shed and a traditional lofted potato shed.

The land is in 10 large fields and part-bounded by a local river

It has plenty of road frontage on to the R125 and on to an adjacent side road, with another access point from the R130.

At auction the property was offered in lots, with the house and sheds on 2.5ac forming one and the remaining 149.5ac making up the rest.

The residence and yards on 2.5ac was bid to €520,000 but  it was soon clear to auctioneers Cianán Duff and Pat O’Hagan of Savills that the interest was in the entire.

Bidding opened at €3m and quickly rose in increments of €100,000 to €3.8m.

At this stage, Pat O’Hagan put the property on the market and three further bids saw the hammer fall at €4.1m.

The buyers are believed to be a local family with equestrian interests.

“This sale demonstrates that commercial farmland continues to generate strong interest from cash buyers,” Mr O’Hagan said, “who are looking to invest in farmland as a tangible asset which acts as an inflationary hedge and offers conservation opportunities over and above food production.”

 

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