A residential farm in Athleague was sold for €805,000 under the hammer last week by Joint Agents Connaughton Auctioneers, Athleague, and Moran & Co., Ballygar.
Comprising of a residence on c.126.40 acres just outside Athleague Village, the property was offered in one overall lot and four individual lots.
In front of a large attendance, the property had an offer of €750,000 on the entire and a combined total of €785,000 in lots.
When the decision was made to sell in lots, a three-bedroomed residence on c.1.24 acres sold for €125,000, c.24.70 acres sold for €140,000, c.15.16 acres sold for €65,000 and c.85.30 acres sold for €475,000. Overall, the property achieved €805,000.
Joint auctioneers David Moran and Ivan Connaughton stated: “We are delighted with the sale. A sale price in excess of the reserve was achieved. The substantial interest in the residence on c.1.24 acres confirms the improving conditions in the residential market. The lands all front on to the River Suck and attracted a lot of local interest.
“This clearly shows that agricultural land is much sought after by both local farmers and investors as the high demand for rental land is set to continue in 2019. We now require similar properties for disappointed underbidders”.
Solicitor for the carriage of sale was Billy Brandon, Patrick J. Neilan Solicitors, Roscommon Town.