Thursday 29 September 2016

Derelict house and outbuildings in Castletown net a 'cool' €8k/ac

53ac 'heavy' holding is mostly in grass and had just been recently reseeded

Published 11/11/2015 | 02:30

Wexford auctioneer David Quinn has had a busy time in the auction room lately disposing of farms great and small.

  • Go To

Among the properties sold by Mr Quinn last week is a 53ac property with a derelict farmhouse and outbuildings at Coolroe, Castletown near Gorey. The property sold after auction for €400,000 or €8,000/ac.

The holding is all in grass with laneway access and backing on to the M11. Described as a bit on the heavy side, it has been reseeded in the relatively recent past and is in good heart and comes with a derelict farmhouse and some derelict outbuildings.

At auction, proceedings opened at €370,000 with four bidders showing interest. The price increased until things came to a halt at €380,000.

The property was withdrawn at that point but sold immediately afterwards for €400,000 to a couple with farming interests living 10 miles away.

In another auction, a 9.6ac parcel at Pallas, Gorey that includes a derelict cottage sold for €140,000. The holding is 3km from the villages of Kilanerin and Hollyfort, 8km from Gorey town and 7km off the N11 at Inch.

The property includes a farmyard and a single storey derelict stone-built cottage that has been unoccupied for some time and is in need of complete renovation. The outbuildings include concrete and corrugated iron sheds as well as a cattle crush and holding pen.

The lands are laid out in five divisions, all of which are currently in grass and of good quality.

With no road frontage and access from a laneway, the fields are well fenced, in good heart, with water supplied from a private well and pumped water to all the lands.

At auction, the property opened at €70,000 and with four bidders on the trail it went on the market at €115,000.

Bidding continued until it was bought by a local farmer for €140,000 or over €14,500/ac.

A parcel of 11ac at Brideswell, Gorey also sold under the hammer in two lots. Both lots were purchased by the one bidder.

The lands are located 2km from Askamore, 5km from Carnew and 16km east of Gorey. In two separate lots with frontage on to the public road, the largest comprised of 9ac of good quality land in two divisions, with half in tillage and the remainder in grass.

The second lot comprised of 2ac, currently in grass, of good quality and may be suitable for a residential site subject to planning permission. At auction, the 9ac opened at €50,000 and attracted two bidders. It went on the market at €80,000 and sold at that to a solicitor acting for clients who went on to buy the 2ac field. It opened at €10,000 and, with three bidders in contention, went on the market at €20,000 and sold at €28,000.

In another auction, Mr Quinn sold a 40ac non-residential holding located at Newry, Clonegal, Co Wicklow for €300,000.

The lands are situated 4km from both Clonegal and Shillelagh, close to Park Bridge Village and the Carlow and Wexford borders, with Carnew and Bunclody both 8km away.

The land is currently in grass, the majority of which is of excellent quality suitable for tillage or grassland use, except for a small section that is in need of drainage and improvement works. The lands are well fenced.

At auction, the holding was offered initially in three lots. A portion amounting to 24.206ac with a holding pen and cattle crush was bid to €180,000 while a 5.8ac piece was bid to €52,000 and an 11ac parcel of bog was bid to €60,000.

However, the serious action took off when the entire was presented and the current tenant, a man from Shillelagh, bought the lot for €300,000 or €7,500/ac.

Indo Farming

Read More

Promoted articles

Editors Choice

Also in Business