Business

122-acre Newry farm sells for £1.9m

A 122-acre farm on the outskirts of Newry has sold at auction for close to £2 million - well in excess of the initial guide price.

A packed auction room at Best Property Services saw the hammer come down on the sale of Gordon's Farm at Tullyhappy, changing hands at £1.9 million.

By the closing date last month, 13 bidders had expressed interest and bidding had reached £1.241 million (against a guide price of £1.275 million).

The farm originally went on offer as three lots of excellence excellent agricultural land (but no residence)- 26 acres of land fronting Buchanan's Road (offers in the region of £260,000), 72 acres fronting Old Armagh Road, Lisnalee Road and Buchanan's Road (offers of £750,000) and 24 acres fronting Armagh Road, Lisnalee Road and Old Armagh Road with former outbuildings and cattle handling facilities (offers of £265,000).

By the end of the first round of bidding in separate lots, the total had reached £1.285m.

But when then offered as one entire lot, two local business men and adjacent property owners swiftly took the bidding from £1.3m to £1.9m in 24 bids until the hammer fell.

A planning consent has been granted for a replacement dwelling for the former dwelling fronting Armagh Road, and this will be available to purchase at a later date.

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