There have been successful farmland auctions in recent days. QUINN PROPERTY auctioned a number of properties in Co. Wexford, the largest was an 81ac holding at Ballykilty, Inch.
It had been guided at €6,000/ac to €7,000/ac, but keen interest was seen ahead of the sale. At the auction, bidding opened at €400,000 and it went on the market at €680,000. It was sold at €1,020,000 to a local dairy farmer, equal to approximately €12,000/ac.
The same vendor had a 3.5ac holding at Scarnagh, Inch, which was guided at €50,000.
Seventeen bidders took part in this auction. It went on the market at €150,000 and was knocked down at €172,000 to a local couple.
The next property up was a 24ac holding at Clologue Upper, Camolin. It was offered as three lots and the entire. The entire was bid to €420,000, but the lots were bid to €470,000, so further bidding was invited for the lots.
Lot 1 of 10.5ac sold for €225,000 to a local farmer with business interests. Lot 2 of 13ac sold for €180,000 to a local farmer. Lot 3, the derelict cottage on 1ac, sold for €92,000 to a local couple. The total for the property was €497,000.
QUINN PROPERTY also sold 19ac of grassland at Wells, Gorey. It was withdrawn at €250,000, but sold afterwards for a higher price to a local business person with farming interests.
This article was written by Paul Mooney and can be accessed here.
With the property market continuing to perform well, please contact us if you are considering selling your property, either by way of auction or private treaty.
QUINN PROPERTY – No.1 Independent Auction House in the South-East