Farm Ireland
Independent.ie

Saturday 21 January 2017

Turnout good amid solid prices at Camolin auction

Published 26/07/2011 | 05:00

Extra seats were required to cater for the crowd of more than 200 people who crammed into the Ashdown Park Hotel in Gorey for the sale of a 225ac farm at Ballyregan, Camolin, Co Wexford.

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The 225ac of land, which was being sold as part of an executors' sale, consisted of three other farms at Ballyregan and Ballyregan Upper.

Local auctioneer David Quinn opened the auction with the 101ac residential farm at Ballyregan. This consisted of a mixed tillage and grass farm, with a two-storey house in need of some repair.

The farm was split into two lots, a 14ac section and the house on 87ac. Bidding on the residential 87ac opened at €650,000 and went up to €760,000 as three bidders threw their money into the ring.

The 14ac portion of land across the road opened at €100,000 and climbed to €135,000 with four bidders.

Mr Quinn then offered the two lots combined, which opened at €900,000 and climbed briskly to €1.1m as four bidders challenged each other in bids of €10,000. The entire 101ac and residence went on the market at €1.1m and was knocked down at €1.12m. The buyer was a Co Meath auctioneer who is believed to be acting for a Wexford farming family.

Next up was the 78ac farm adjoining the first at Ballyregan Upper. This farm had no road frontage and was located off a laneway. It was split into two lots. The first was a 32ac portion with a derelict house and some sheds, while the second lot was a 45.5ac block of heavy land that would require some drainage work.

After a few rounds of bidding, the 32ac portion went on the market at €250,000 and was sold to a lady from Cork a short time later for €280,000.

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The 45.5ac block of land went on the market at €260,000 and was knocked down to a farmer from the north Wexford area for €300,000.

Auctioneer David Quinn said the combined price for the Ballyregan Upper farm of €580,000 was exceptionally strong.

Finally, the 46ac farm located 500m away at Ballyfoley, Ballycanew, Gorey, was offered for sale. This farm had road frontage and was described as nice ground, divided into seven fields.

Bidding opened at €250,000 but was significantly slower to move that the previous two farms. Bidding stalled at €300,000 but eventually it went on the market at €360,000.

delighted

After four more bids, the killer blow was landed by a local farmer who made his first and only bid at €385,000.

By the end of the day, the tally for the 225ac residential farms was €2.085m, which topped the guide prices by more than €250,000.

Commenting on the sale, Mr Quinn said he was delighted at the result but also amazed at the number of disappointed underbidders left after the auction.

"It was very encouraging to see how much money walked out of the room unspent," he said. "It is a indication of the strong demand for land in the north Wexford area."

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