Land makes €12,025/acre in Wexford


WATCH: Circa 45-acres at Ballyrahan, Gorey, Co. Wexford was knocked down at €540,000. The land was guided between €450,00-€480,000.

Land makes €12,025/acre in Wexford

  • ADDED
  • 2 years ago

WATCH: Circa 45-acres at Ballyrahan, Gorey, Co. Wexford was knocked down at €540,000. The land was guided between €450,00-€480,000.

A public auction hosted by Quinn Property on Saturday at Loch Garman Arms Hotel, Gorey, Co. Wexford drew a crowd in excess of fifty people.

Land of mixed quality including circa 27-acres of good quality tillage land and circa 17-acres of grassland in need of work went under the hammer, as outlined here.

The property located in Ballyrahan in close proximity to Gorey was offered in the following lots:

  • Lot 1: C. 19.4 -acres;
  • Lot 2: C. 19.5-Acres;
  • Lot 3: C. 7.42-Acres;
  • Lot 4: C. 6-Acres;
  • Lot 5: C. 44.9-Acres (Lot 1; Lot 2; and Lot 4).

Details

Bidding started at €70,000 for lot three and with four bidders, the property pushed up to €140,000; however, with no further bids the c. 7.42-acres were withdrawn.

Lot five contained Lots 1; 2; and 4; these lots were bid to €455,000 separately, prior to being offered together in Lot 5.

Bidding on Lot 5 commenced at €470,000 before quickly reaching to €520,000 at which point it was placed on the market.

With two bidders active, offers of €530,000 and €540,000 soon followed and with further bids, the hammer was knocked down at €540,000 (approx. €12,025/acre).

The lot C. 44.9-acres was guided between €450,00-€480,000.

Video


Speaking following the sale, David Quinn said:

”The auction emphasises the strong level of demand for farmland so close to Gorey. Both the vendor and the purchaser were very happy with their day’s work “.

Image source: Quinn Property.

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