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Athlone farm sells at auction for €1.4 million!

Featured Athlone farm sells at auction for €1.4 million!

 

 

A 143-acre farm at Castlesampson, Athlone was sold by public auction by agents Connaughton Auctioneers last Friday (August 30th) in Gullane’s Hotel, Ballinasloe. Connaughton Auctioneers reported a large attendance at the auction with the farm offered for sale in three separate lots and one overall lot.

  Auctioneer Ivan Connaughton, who conducted the auction, firstly offered the three individual lots for sale with highest bids of €115,000 on 13.2 acres (Lot 2), €600,000 on 77.53 acres with farm buildings (Lot 3) and €340,000 on 52.43 acres (Lot 4). The overall farm (Lot 1) was then offered and bidding opened at €1,000,000 and reached €1,200,000.

  After deliberation, the auctioneer sought offers for the individual lots and after brisk bidding, increased offers of €125,000 (Lot 2), €680,000 (Lot 3) and €390,000 (Lot 4) amounting to €1,195,000, €5,000 short of the offer for the overall lot. One last opportunity was given for interested parties for the individual lots and the offers increased to €1,230,000.

  Before consultation with the vendors for decision to sell as one lot or in individual lots, the auctioneer sought offers for the overall farm in one lot and offers increased to €1,300,000.

After a break for consultation, the decision was made to sell the farm in one lot. The auctioneer informed the attendees of the decision and outlined the offer of €1,300,000 was short of expectation and sought increased offers. Offers increased to €1,400,000 and following a short break, the auctioneer returned to the podium and declared the property to be on the open market and selling. No additional offers were received and the hammer fell at €1,400,000 to a local farmer.

  Auctioneer Ivan Connaughton commented to the Roscommon People after the auction: “We were delighted with the result. It is an exceptional farm with an extensive range of farm buildings. Its location close to Athlone and Ballinasloe was a major benefit in the sale. We had interest from all over Ireland. There was interest in all lots with many disappointed under bidders for the individual lots. I wish the purchasers the best of luck with their new farm. We now need similar farms and parcels of lands for interested parties on our database”.

  Solicitor for the carriage of sale was Dara Hayden from Hayden & Co. Solicitors, Athlone.

 

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