A 90-acre farm in Finea, Co Westmeath made almost e4,500 per acre after it went to the highest bidder at a public auction in Trim last week.
The property which is based at Castletown, Finea boasted expansive countryside views of Lough Sheelin and the Lough Crew Hills and came with full planning permission for a substantial residence extending to 5,500 square feet.
Also on site were a derelict residence, small disused quarry and annual forestry premia to the value of e3,000 to e4,000. About 50 acres of the farm is reported to be “good quality grazing” with 20 acres in need of attention and the remaining 20 acres planted to forestry.
After opening the bidding at e310,000, two bidders drove the sale price to e396,000 at which stage, the property was declared on the market. Following this, bids of e1,000 were taken and once the property hit the e400,000 mark, a new bidder entered the race bringing the sale price up to e401,000. Another e1,000 bid however, secured the sale for the man who was there right from the beginning, namely a farmer from Co Cavan who owns land in the vicinity and at a cost of e402,000 or almost e4,500 per acre.