32ac coastal farm makes €12,500/ac
Published 28/11/2012 | 06:00
The sale of coastal land in Wexford has been busy of late. Some of the land was bought during the boom with an eye to the development of holiday homes and holiday villages.
However, it is now coming back to the market as farmland.
Typical of these properties is a grassland holding extending to 32ac and located within yards of the beach at Ballymoney, Gorey, Co Wexford. Under receiver's instructions, it sold under the hammer last week for €400,000 or €12,500/ac.
Laid out in one single block, the farm is in grass and is home to an old farmhouse and a traditional farmyard surrounded by mature trees.
While sold jointly by Quinn Properties and Savills as agricultural land, the property could have development potential in the future subject to the necessary planning.
The farm was offered at auction as an entire and bidding opened at €250,000.
In bids of €5,000, the amount on offer reached €350,000, at which point the farm was put on the market. After another 10 bids, it sold under the hammer for €400,000 to a solicitor acting in trust.
Further west in Carlow, 33ac of a 60ac farm sold in two lots at auction under the hammer of James Fenlon of Graiguenamanagh.