A 49-acre farm in Tinahely, County Wicklow achieved a whopping total sales price of €630,000 at auction this week.
Located in Toberpatrick, just 5km from the beautiful village of Tinahely, the sizeable holding attracted a “substantial” amount of interest from neighbouring farmers and buyers across the Garden County ahead of the auction.
Laid out in seven divisions, all of which are in grass, the sprawling property features a derelict farmhouse and a range of outbuildings that include a free-standing enclosed shed and a three-bay round roof shed with a three-bay 25ft lean-to.
Auctioneer David Quinn had guided the property between €6,000 and €7,000 per acre prior to the auction and was stunned by the massive €13,000 per acre sale price the property achieved.
Bidding at the auction opened at €250,000 before quickly moving past the €400,000 mark. After reaching €440,000, a break was called to take client instructions. Upon his return to the auction room, Mr Quinn declared the property “on the market” and invited further bids.
The pace of bidding increased thereafter, surpassing the €500,000 in no time. With two bidders still active, bidding continued at a steady pace until the hammer eventually fell at €630,000.
The purchaser of the property is described as a farmer from the north Wexford/ south Wicklow area.
Speaking after the auction, Mr Quinn expressed his delight with the result, noting: “The price achieved equates to almost €13,000, well above the guide price of €6,000 – €7,000 per acre. It was a phenomenal result.
“It was particularly pleasing that bidding continued for almost €200,000 past the point after which the property was put on the market. This points to the strength of demand for such holdings.”
This article was written by Eoin Mac Raghnaill and can be accessed here.