Local farmers with 'spending power' drive big prices for land in Wexford
The last few weeks of 2016 saw somewhat of a flurry of sales in the auction rooms with good prices achieved, writes Jim O'Brien.
In the southeast, Alan Kinsella of Kinsella Estates Gorey and Carnew sold a 48ac non-residential farm at Ballybuckley, Bree near Enniscorthy in Co Wexford for €662,000 or €13,600/ac.
Located 800m from the village of Bree, the land is about 5km from Enniscorthy and across the road from the well-known Wilton House.
Currently in stubble, the holding is made up of two distinct lots consisting of a 16.15ac parcel with about 300m of road frontage and a 32.33ac parcel with laneway access.
The stubble ground is described by Mr Kinsella as good quality, south-facing land with access from two roads.
At auction, two rounds of bidding saw the amount on offer for the two lots reach a total of €465,000.
The 16.15ac piece opened at €160,000 and with two bidders in the chase, it was making €220,000. The 32.3ac parcel opened at €200,000 and with two bidders in action, it held at €245,000.
Bidding then concentrated on the entire in a sale driven by the two customers who had bid on lot two in the first round. When the amount on offer reached €580,000, Mr Kinsella consulted with the vendor and the property was put on the market at that price.