Wexford holding sells for close to €20,000 an acre
Published 23/03/2016 | 02:30
A parcel of ground at Kilmurray near Gorey in Co Wexford sold at auction last week making a whopping €19,140/ac.
The 18.8ac parcel of ground at Kilmurray is located 1.6km from Gorey town and is described by Denis Howell of Warren Estates as the best of ground.
All in grass the property is laid out in two fields with decent road frontage, Mr Howell said it would be ideal, with the appropriate planning permission, as a location for a house.
At auction on the day the property opened at €200,000 and attracted two strong bidders, two local farmers one of whom was acting for his brother who lives abroad.
The price climbed steadily in tranches of €20,000 until it hit €220,000. At that point it was held and the auctioneer consulted with the vendors.
On returning to the room the place was put on the market and with more hectic bidding the price went up in tranches of €10,000 until the property was knocked down at €360,000 to the man bidding on behalf of his brother.
Mr Howell was delighted with the auction and the result.
"We had a full room but no one got a chance to raise a hand with the two bidders in question. It was clear from the start that one of them was going to buy it," he said.