182-acre tillage farm sells for over its guide price of €3 million at public auction

Launched to the market in September of this year, the joint selling agents carried out approximately 20 viewings over a four-week period. Interested parties included those running established farming enterprises who are looking to expand, and investors attracted to owning a large single block of prime farmland.

Parkstown Farm comprises a historic period house and extensive farm buildings, with impressive winter accommodation for around 550 head of cattle and 3,000 tonnes of grain storage. The productive tillage land is a key feature, being suitable for growing a wide range of arable crops and lying in a ring-fenced block with extensive road frontage.

There was a super attendance on the day, with interest from the farming and business world making up the 40-person crowd. Parkstown Farm attracted bids from parties living in Ireland and abroad, before Trim auctioneer, Loman Dempsey, dropped the hammer at €3,150,000, with the buyer believed to be Irish-based with farming interests.

Following the sale, James Butler, Head of Country Agency at Savills, commented: “The sale of Parkstown Farm shows that large scale equipped commercial farms continue to attract demand from international and local cash buyers who are attracted to farmland as a long-term investment, which serves as an inflationary hedge and offers conservation opportunities, in addition to food production.”

The overall sale price of €3,150,000 equates to a price of €17,300/acre.