Breaking: South Longford Farm Sells for Over €540,000 in Intense Bidding
An attractive south Longford farm has been sold for more than €540,000 following intense bidding at auction. The c. 78 acres of agricultural land located at Killinure, Newtowncashel, known for its neat and tidy divisions, has attracted significant attention from potential buyers. This property is suitable for any farming enterprise and was sold in a public auction conducted by Dillon Murtagh of Murtagh Bros.
Key Details of the Auction
Dillon Murtagh, representing Murtagh Bros Auction Rooms in Enfield, Co Meath, explained the intricacies of the auction. He said, “The lots were divided with approximately 19 acres selling for €290,000 under the hammer of agricultural land.” Furthermore, he added, “The c. 40 acres of agricultural land was withdrawn at €250,000 and sold for significantly higher after auction.”
Evergreen Insights: Why Agricultural Land is a Hot Commodity
Agricultural land has always been a valuable commodity, but recent years have seen a surging demand. This rise is due to multiple factors, including the growing awareness of sustainable farming practices, investment diversification, and the increasing global population. Ebony Dy peloton, a real estate expert, notes, “Farmland is not just an asset but a necessity for sustainable agriculture and food security.”
Investing in agricultural land can provide long-term economic benefits such as rental income and capital appreciation. There are several factors to consider before buying, including soil quality, access to water, and terrain suitability for specific crops.
Local Context: Longford’s Growing Agricultural Scene
Longford has historically been renowned for its fertile land, fostering a robust agricultural sector. Over the years, advancements in farming technologies and ethics have strengthened the agricultural economy in the region..it has now become a hotspot for investors looking to capitalize on High-quality land.
Final Thoughts
The sale of this premium agricultural property in Longford highlights the continued strength and resilience of Ireland’s farming sector. The ability to attract such high bidding prices indicates a bullish market for quality land, and we may expect to see more high-profile sales in the near future.
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