SOLD SEPTEMBER 2019: Outstanding C. 216 Acre Residential Farm With Extensive Range Of Outbuildings For Sale By Public Auction On Wednesday 4th September 2019 At 3pm In The Ashdown Park Hotel, Gorey, Co. Wexford
An Aerial View of the Property
A record crowd, over 150 people turned up to the Ashdown Park Hotel in Gorey today to the auction of an outstanding 216 acre holding. The property is one of the finest farms to be sold in North Wexford for some years. Prior to auction, the guide price stood at €2.3million.
Due to the vast scale of the property, it was offered in four separate lots as well as in its entirely. Lots 1 -4 comprised of the following:
Lot 1: Four Bed Residence with extensive range of yards, sheds and outbuildings on C. 113 Acres with extensive road frontage, in tillage and grass. Lot 2: C. 49 Acres with extensive road frontage, in tillage and grass Lot 3: C. 26 Acres with extensive road frontage, in tillage and grass Lot 4:C. 28 Acres with extensive road frontage, in tillage and grass
Details of the auction are summarised as follows:
Lot 1: Bidding opened at €1 million and moved briskly to €1.5m at which point there were no further bids. Lot 2: Bidding commenced at €400,00 and reached €440,000 Lot 3: Bidding began at €250,000 and reached €310,000 Lot 4: Bidding opened at €250,000 and peaked at €300,000
Auctioneer David Quinn
At this point the combined figure for the farm was €2,550,000. The farm was then offered in its entirety but there were no offers in excess of €2,550,000.
Once it was established that the farm was to be sold in separate lots another round of bidding took place:
Lot 1 was placed on the market immediately. After some brisk bidding the hammer fell at €1,900,000. This lot was bought by an adjoining farmer.
Lot 2 was also declared on the market immediately. Following some strong bidding it was sold at €500,000 to a farmer/businessman from the North Wexford area.
Lot 3 had also reached its reserve following the first round of bidding. It was subsequently sold to the local GAA club for €350,000. Lot 4 received no further bids in the second round of bidding and was sold to a local farmer for €300,000.
The total price for the farm was €3,050,000 (€3.05m) which equates to almost €14,000 per acre, approx. 20% over the guide price. The auctioneer commented that he had a large number of disappointed underbidders seeking similar land In the north Wexford area.
To view the full property listing including drone footage of the property please click here.
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