90ac Cavan dairy farm sells for €1.45m as strong prices dominate in early 2023

By David Cooper On Feb 13, 2023 49 0

Land sales by private treaty and auction, from Cavan to Waterford, are moving on apace even at this early stage of the year. Robert Nixon recently concluded the private treaty sale of a 90ac residential farm at Virginia in Cavan. It was bought by a businessman for €1.45m. Meanwhile, Dungarvan auctioneer, Eamonn Spratt sold a 32ac farm under the hammer for €650,000.

he Cavan holding at Enagh West, Virginia came with an extensive range of modern buildings. Located five minutes from Virginia and 10 minutes from Oldcastle, the property consists of 90ac that has been well looked after, a two-storey dwelling, a yard with a wide range of facilities including a milking parlour that hasn’t been used in recent years.

The lands are all in pasture in a series of large divisions subdivided by electric fences and serviced by an internal roadway. There is access from the public road at two different points.

The entire farm at Enagh West extends to 90.19ac and made €1.45m by private treaty.

The yard has accommodation for 80 cattle and facilities that include slatted sheds and cubicles fitted with scrapers. There are also loose calving boxes, bedded pens and a cattle crush. The milking parlour has space for 16 cows and eight machine units with much of the milking infrastructure still in place, including the feeders.

The house is a two-storey farmhouse in good condition with four bedrooms, a sitting room, kitchen, utility and WC along with a family bathroom.

The property was offered for sale as an entire or in lots but was ultimately bought as a unit. According to Mr Nixon there was wide interest but at the end of the private treaty process there were two main contenders, a businessman from Cavan and a businessman with farming interests. While the Cavan man won the day, the fact that the last two customer standing were from the business sector is further evidence that non-farming money is seriously in the chase for farmland.

Dungarvan auction

Moving south to Waterford, Eamonn Spratt of REA sold at auction a c.32ac parcel of non-residential roadside land at Gliddane, Dungarvan. The ground has been in tillage for the last number of years.

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The house in Enagh is a modern building that has been upgraded.

The property is in one large field situated 3.2km from Dungarvan. It has good road frontage on to the N72 and comes without buildings or livestock facilities.

According to Mr Spratt, there was a lively level of interest prior to the auction from farmers in the local area, from the southeast region and some from abroad.

At the live auction, bidding was brisk when Mr Spratt opened proceedings after accepting a bid of €425,000. Four customers showed cause and the price rose swiftly in increments of €5,000 and €10,000. The place was put on the market at €495,000 but the bidding continued until another €155,000. The property sold under the hammer at €650,000 after a total of 44 bids from the floor. It is believed the new owners are a local family farming in the Dungarvan area.

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The 32.37 farm at Gliddane, Dungarvan made €650,000 at auction

The farm is located in a strong locality area and the parcel is ideal as an out farm for replacements or will a substantial addition to any farmer wanting to extend the holding to comply with the nitrates requirements. According to Mr Spratt, the level of enquiries received prior to the sale was a sign of the buoyancy of the milk price and the need for more land to stay at the right side regulations .

“The price achieved equated to more than €20,000/ac, a very strong price and an indication of confidence in the expanding local agri-economy,” he said.

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1.45m 90ac Cavan dairy dominate early farm Prices