Farm Ireland
Independent.ie

Friday 22 September 2017

Wexford plot goes for over €20,000/ac

Jim O'Brien

Jim O'Brien

One of the strongest prices of the year was paid for a 9.78ac plot of land when a 54.5ac non-residential holding at Horeswood, Campile, Co Wexford sold in lots during and after auction last week.

The 9.78ac sold under the hammer for €200,000, or over €20,000/ac.

Located less than 2km from the village, the farm is described by Anne Carton of selling agents PN O'Gorman as top quality ground, the majority of which is under stubble.

At the auction there were three local farming bidders for 24.2 ac in three main divisions of tillage and a small portion in pasture. This section was withdrawn at €260,000 or €10,700/ac and sold immediately afterwards for a higher price to one of the three bidders.

A 20.5ac portion, laid out in a number of fields and located at a crossroads giving it substantial road frontage, was bid to €240,000 and sold after the auction to the same buyer as bought the 24.2ac section.

The remaining 9.78ac parcel, in one division, was the only lot to sell under the hammer.

A solicitor and a local farmer joined the battle for the land and the farmer won the tussle with a final bid of €200,000 or over €20,000/ac.

Across the border in Kilkenny, Ms Carton sold a non-residential holding extending to 24.4ac for €310,000.

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The lands are located at Lennaght and Ballinabarney, close to the Rower and Inistioge. The holding was sold at auction and in lots. A 11.24ac portion, known as the Barrack Field, was described as top quality land currently in stubble.

At auction, it opened at €80,000 and with four bidders in the chase, it went on the market at €190,000 or €16,903/ac and sold at that price to a local farmer.

A 13.18ac parcel in four fields of permanent pasture opened at €70,000 and, with four local bidders showing interest, it quickly reached €120,000. It was put on the market and knocked down to a local farmer at that price, which equates to €9,104/ac.

Ms Carton described the auction results as "fantastic," saying they represented a vote of confidence in the land market.

Irish Independent