A Westmeath farm is back on the market this week for €1 million less than it was sold for in 2007.
The 53 hectare (132 acre ) farm just outside Ballymore was sold at the height of the Tiger for €1.7 million, and is back at auction with a guide price of around €5,000 per acre, which should see it change hands for between €600,000 and €700,000.
The holding is scheduled to go under the hammer in Cooney’s Hotel, Ballymahon, Co Longford next Friday (September 16 ) at 3pm; however, it may be sold by private treaty in the interim.
“There is an offer on it, and there’s a very good chance it may be sold prior to auction,” said James O’Meara ofSherry Fitzgerald O’Meara Auctioneers, Mardyke Street, Athlone.
Located 15km from both Mullingar and Athlone, and 8km from Ballymahon, the farm is laid out in a single block, with no farm buildings or single payment entitlements included in the sale.
The farm is in the townland of Lugacaha, which is out the Ballymahon Road, straight on after The Village pub on the Athlone side of the village. It overlooks Lough Sewdy and has extensive road frontage close to the village.
James O'Meara says that perhaps up to eight hectares (20 acres ) of the farm bordering the lake is marginal land, but over the rest is good quality land suitable for fattening cattle.
“This farm has immense potential for any farming enterprise,” he maintained.
For more information, contact O’Meara Auctioneers on (090 ) 6438400