‘Wexford tillage parcel makes almost €22k/acre at auction’. Irish Examiner. 29/03/23.
Gorey-based auctioneers Quinn Property conducted another successful online auction on Tuesday March 21 of a 20.74-acre farm a few kilometres south of Enniscorthy in the townland of Sweetfarm.
The tillage holding was described by the selling agents as a “superb roadside holding in a very attractive area” and its location close to Enniscorthy meant it held the tantalising possibility of getting planning permission at a future point.
The property was offered in three lots — Lot 1 was 11.24 acres, Lot 2 was 9.5 acres of fine Wexford tillage land and Lot 3 was the entire holding of 20.74 acres.
Lot 1 was first to be offered and, starting at €120,000 and going to €240,000. Lot 2 subsequently opened at €100,000, before reaching €170,000.
With a combined value of €410,000, auctioneer David Quinn then offered Lot 3 — the entire holding — to the floor, whereupon the value was increased to €420,000.
Mr Quinn then went back for a second round of offering lots 1 and 2, which resulted in a combined value of €440,000. With no further bids on Lot 3, the two separate lots were offered once more, with the hammer falling on €260,000 for Lot 1 (€23k/acre) and €190,000 (€20k/acre) for Lot 2.
With a total value of €450,000, the land made just under €22k per acre. Afterwards, Mr Quinn noted the auction “produced a fantastic result for our vendors, with the land selling for well over the €15k/acre guide price”.
This article was written by Conor Power and can be accessed here.