Three auctions - with a combined land mass of over 200 acres - took place in the Shamrock Lodge Hotel last Friday afternoon. People travelled from all over, including prospective buyers and concerned neighbours.

The jewel in the crown of this auction was the first piece of land to go under the hammer - 161.5 acres comprised of eleven lots. Speculation surrounding the asking price for this prime land, situated near Moore’s garage on the Dublin Road.

Solicitor Aidan O’Carroll laid out the terms and conditions of the sale beforehand, and bidding then began at €50 million, but this price soon fell as there were no takers.

The price reached €40 million before a bid came in and after some stalling climbed to €42m. There was a ten minute break to allow prospective buyers to confer. When the auction resumed Seamus Downes of Downes Auctioneers kept the bid alive, but it only climbed to €43.5 - a price not acceptable to land owner James Lennon.

Mr Lennon, who attended the auction with his family, was adamant that he would not sell for below €50m - at least.

The land was withdrawn, having not reached close to the price expected by the owner. Mr. Lennon told the Athlone Advertiser that he was not disappointed with the outcome. “There was still quite a bit of interest and the prices were good, but there’s no way I’ll sell it unless I get my asking price”.

The site will now be sold privately through Downes Auctioneers.

Two other sites were auctioneered later in the afternoon - ‘20 acres adjacent to the Dublin Road and Michael Moore Car sales which fetched €13m. The final lot of 24 acres was withdrawn at €13.5m.

Posted: 05|5|06 at 9:11 am. Filed under: Property & Land.