Farm Ireland

Friday 28 October 2016

Strong sales in southeast land market

Jim O'Brien

Published 29/04/2015 | 02:30

The land market in the southeast continues to be active and among the recent sales a 50ac farm with a derelict house and farmyard at Ballyart, Co Wexford sold in one lot after auction. It was making €370,000 in the public arena but was withdrawn and sold after for a higher figure.

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Located nine miles south of Gorey town, on the Killena/Killmuckridge road, the holding is laid out in five fields with a large paddock around the yard.

While described by Denis Howell of Warren Estates as mainly suitable for grazing, about 23ac has been sprayed and burned off and is ready for reseeding or winter tillage.

Facilities on the farm include a five-bay haybarn with two lean-tos, a concrete yard measuring 100ft by 50ft with a feeding passage, a 30ft cattle crush and a derelict farmhouse.

At auction the farm was offered as an entire and in lots, with one lot comprising c.14ac and another extending to c.36ac and including the house and yard.

On the day the first lot attracted no bid, the second lot was bid to €250,000 and the entire was bid to €370,000.

With no further offers forthcoming the property was withdrawn. Discussions continued with the highest bidder, a local farmer, and the property was sold to him for €390,000.

Staying in Wexford, David Quinn of Quinn Property has seen a steady run of sales including a 23ac parcel of ground at Monalee, between Gorey and Arklow, that made €162,000 or over €7,000/ac.

The land is described by Mr Quinn as upland grazing ground with no road frontage. Bidding opened at €100,000 and three bidders showed cause and the place went on the market at €160,000. It sold for €162,000 to a local suckler and dairy farmer.

In another sale, Quinn Property sold 15ac of ground at Clonroe, Gorey. The parcel opened at €80,000 and was bid up to €130,000 before being sold to a local dairy farmer for €135,000.

A similar parcel of 15ac with a derelict house at Bolinrush, Bunclody was brought to auction and offered in two lots.

The house and one acre was bid to €30,000, while a 14ac parcel was bid to €100,000. The entire was offered for sale at €150,000 and sold to an adjoining tillage farmer for €180,000.

The local Church of Ireland parish at Tinahely faced down stiff competition to buy a three acre field adjacent to the school at a place aptly named Churchlands, Tinahely.

Five bidders showed interest when the parcel opened at €40,000 but the church representatives won the day when €75,000 secured the property.

Finally, Mr Quinn was pleasantly surprised when a house in need of renovation on 10ac of land that needs reclamation made €265,000 under the hammer achieving more than double its pre-auction guide of €120,000. The property is located at Casteltown, between Gorey and Arklow.

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