‘A little piece of Meath in Drum’ fetches €1.15M

A farm near the Monaghan-Cavan border fetched over €1M when it recently went up for auction.

Eamon Gaffney Auctioneers described the non residential farm in Tonagimsy, on the outskirts of Cootehill as “a little piece of Meath dropped in the middle of Drum”.

Still, the property exceeded the auctioneer's expectations.

“We were hoping for something in around €10,000/acre,” said the Cornafean man.

“We offered it in lots first - and there was no big demand on lot one or lot two, but when we put the entire 86 acres up we had three bidders in the room and three bidders registered online.”

As a result of the sums bid on the individual lots, offers for the entire lot began at €610K and “sharp bidding” saw it swiftly reach the million mark. Once it hit €1.03M it was agreed by the family that the property would go on the market. More brisk bidding saw the property make a further €120,000 with Eamon's gavel falling at €1.15M.

“A solicitor secured the property with the highest bid online for a client who is believed to be a local farmer,” he said explaining the owner had remained anonymous thus far.

With a price per acre of €13,372 it's reportedly one of the best prices ever achieved for agricultural land in Monaghan.

“It was 86 acres in one block, it was ready to walk into as it was maintained to a very high level, and farmed to a very high standard,” explains Eamon of why it commanded such a high price.