Sold August 2018 – Valuable C. 52 Acre Roadside Holding For Sale By Public Auction On Friday 24th August 2018 At 3pm In The Loch Garman Arms Hotel, Gorey, Co. Wexford.
Today’s auction drew a crowd of over 50 people to the Loch Garman Arms Hotel. This level of interest was unsurprising due to the property’s proximity to Gorey and the volume of enquiries received.
The land is of mixed quality. It contains C. 27 acres of good quality tillage land and C. 17 acres of grassland in need of work. For comprehensive details on the property please click here.
The property 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)
Lot 3: Bidding started at €70,000. With four bidders active the property reached €140,000. However, with no further bids the c. 7.42 acres were withdrawn.
Lot 5: 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 advancing 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. With no further bids the hammer fell at €540,000 (approx. €12,025 per acre).
This marked a good return as the lot of C. 44.9 acres was guided between €450,000 and €480,000.
After the sale, auctioneer David Quinn commented: ” 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 “.
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Ciprian Popescu on Friday, August 24, 2018 in Auction Reports, Media