Property on Kildare border sells for an incredible €6.8m

Coonan Property have sold Lumville Farm, Edenderry for €6.8 million at a public auction on Wednesday at the K-Club Hotel, Straffan.

The property was offered for sale in three lots, as follows;

 Lot 1: Managers residence, bungalow style residence and yard on approx. 167 acres
(67.6 ha)
 Lot 2: Residence and yard on approx. 51 acres (20.7 ha)
 Lot 3: The entire on approx. 218 acres (88.3 ha)

The bidding was brisk with bids for lot one starting at €3.5 million, with two active bidders bringing the lot to €4 million. Bidding for lot two started at €800,000 with 3 active bidders bringing the lot to €1.25 million.

Lot 3, the entire, was then offered to the room with the bidding opening at €5.3 million, 4 bidders briskly brought the entire to €6.7 million where it was placed on the market, finally achieving an excellent price of €6.8 million, a per acre price of just over €31,000 per acre. However the buyer’s identity remains a mystery after the prestigious property was bought in trust for a client.

Lumville Farm is situated on approx. 218 acres (88.3 ha) made up of exceptional quality stud rail fenced land in well laid out divisions. Two of these divisions are divided by a public road with extensive frontage of approx. 1.8km. There is great ease of access throughout the lands and impressive buildings giving rise to an exceptionally smooth-running operation.

The location of this farm is second to none. Lush green Co. Offaly pasturelands provide magnificent grazing for bloodstock and livestock.

Further details can be seen at www.lumvillefarm.ie

Will Coonan of Coonan Property said: “Over the course of the sales campaign for Lumville Farm we experienced strong enquiries from local farmers to international buyers looking to acquire quality farmland in Leinster. This auction result is a great example of the demand for quality farms in the market today.

“The present owners had instilled their Derrinstown ethos of quality throughout Lumville Farm and potential purchasers could see that at every turn”.