Tuesday 27 September 2016

Residential farm in Wicklow goes for €10,000/ac

Jim O'Brien

Published 06/05/2015 | 02:30

A 73ac residential farm at Tomagaddy, Ballycanew, Gorey, Co Wexford sold in lots last week making a total of €729,000 or almost €10,000/ac.

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Located 3km south of Ballycanew, the property is 11km from Gorey and 8km from the coast.

It has plenty of road frontage and the land is described by David Quinn of Quinn Property as free draining ground in the main, with some slightly heavier land along the eastern boundary.

Up to 55ac of the holding is currently in tillage with 18ac in grass. The homestead is set on an elevated site in the middle of the property and needs extensive restoration.

On the day of the sale the first lot, comprising the house on 35.5ac along with some sheds and out offices, opened at €250,000 and was bid to €395,000 before stalling.

The second lot of 32ac, with 14ac in tillage and 18ac in grass, opened at €230,000, but bidding came to a halt at €245,000. A 5ac piece with possible site potential opened at €40,000 and held at €60,000.

At this point David Quinn sought bids in excess of €700,000 on the entire, but none was forthcoming. He returned to the lots and declared each of them on the market.

Brisk bidding on the 35ac with the house took it from €395,000 to €417,000 at which point it sold to an adjoining farmer.

The 32ac parcel went on the market at €245,000 and sold at that price to a local farmer.

Meanwhile, the 5ac piece went on the market at €60,000 and sold at €67,000, also to a local farmer.

Tinahely

Further north in Co Wicklow, a 9.5ac piece of a 60ac farm at Knockatomcoyle, Tinahely, Co Wicklow made €10,500/ac under the hammer. It was bought by a local dairy farmer.

A 28ac parcel of forestry and pasture made €8,000/ac, while another 9.5ac piece was withdrawn at €95,000 and the remainder remains to be sold.

Located close to the picturesque village of Tinahely, the farm has panoramic views over the surrounding countryside, as well as direct road frontage and access off a laneway.

In the auction conducted by Tinahely-based auctioneer Andrew Kiersey, of Kiersey Walker & Associates, the 9.5ac parcel of tillage ground sold to the aforementioned dairy farmer for €100,000 or €10,500/ac.

A 28ac parcel made up of forestry and old permanent pasture made €220,000 or just under €8,000/ac, while another 9.5ac parcel was withdrawn after being bid to €95,000.

The stone dwellings on 2ac were withdrawn and are for sale by private treaty, along with a lot that includes 4ac of forestry divided between Sitka Spruce and ash.

A further 9ac of ground in need of attention was also withdrawn.

Indo Farming

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