Abbeyshrule farm under
negotiation after just one lot sold

One of the biggest farms in the county to be offered for sale, so far this year, went under the hammer last week, but after just one lot out of four was purchased, the remainder of the 345 acre residential, grazing farm, located just half a mile outside the national Tidy Towns winning village of Abbeyshrule, was taken off the market.

One of the biggest farms in the county to be offered for sale, so far this year, went under the hammer last week, but after just one lot out of four was purchased, the remainder of the 345 acre residential, grazing farm, located just half a mile outside the national Tidy Towns winning village of Abbeyshrule, was taken off the market.

The farm at Clynan, certainly generated a lot of passing interest and was once part of a large estate that boasted rich agricultural land, residential dwelling, forest and gardens.

The farm currently boasts 77 acres of forestry which was planted back in 1999 and the remains of Clynan House are still visible on the site. With extensive frontage to the River Inny, over 260 acres of good quality fattening land on the farm has also been rented out since 2005.

The auction – in respect of the farm - was held at the Park Hotel in Mullingar with selling agents, Jackie Whyte Auctioneering to the fore, earlier this month. The auction room at the hotel was packed to capacity with onlookers taking their place, for what turned out to be a lengthy two-hour auction.

Following a long battle from four interested parties, the first lot comprising of 58 acres was eventually withdrawn at €400,000, but subsequently sold afterwards in a private deal for an undisclosed higher figure, with speculation mounting that it was in fact purchased by a local farmer.

A further 102 acres was then withdrawn at €476,000, but according to Ms Whyte, “considerable progress” has been made with negotiations taking place in respect of the highest bidder.

Farming Leader understands that the 77 acres of forestry, which has just one premia payment of €5,700 remaining, was unsold at €141,0000 and is currently under negotiation, while the largest parcel – comprising the remains of the Clynan House on 108 acres – was bid to €450,000. It is now believed that this lot was removed from the market altogether and is no longer available.

Despite the disappointing turn of events during the auction, Ms Whyte remains confident that a deal can be reached with regard to the negotiations that are taking place. “Although there appears to be plenty of interest to buy land, once you start to move beyond the €500,000 mark, the number of serious customers gets thin on the ground,” Ms Whyte told the Farmers Journal, last week.