nav
\"David

David Gilsenan from Crossakiel near Kells Photo by: Irish Independent

Irish farmer buys back land he sold for $2 million for $75,000

\"David

David Gilsenan from Crossakiel near Kells Photo by: Irish Independent

An Irish farmer has bought back land he sold at the height of the Celtic Tiger for close to $2 million for just $75,000.

The 8.5 acre site near Kells, County Meath, an hour from Dublin was set to be redeveloped for new homes.

But the financial bust happened and the land lay unused, the Irish Independent reported.

The original developers auctioned the land off again this week -- and there were only two bids.

The land that was supposed to be the site of 45 homes selling for about $300,000 each was instead back in the original owner's hands.

David Gilsenan refused to discuss his good fortune but won't have to even remove a fence from his current property as the site was never even fenced off.

A member of his family said "this is private family business."

Increasingly banks are unloading rural property development sites to get them off their books.
 

COMMENTS