Farm Ireland

Thursday 19 April 2018

€1.3m paid for Wexford site

Jim O'Brien

Jim O'Brien

Farmers paid out €1.3m for a 112ac grazing residential farm in Co Wexford last week.

The sale price for Brick House at Ballyduff, Killeena equated to €11,600/ac. It was sold in lots, with the auction being handled by Warren Estates.

Located eight miles south of Gorey, the property includes a two-storey traditional farmhouse built from Courtown brick.

The house is in need of total refurbishment according to Denis Howell of Warren Estates, while the substantial farmyard incorporates a haybarn and lean-to.

The yard also includes a range of older stone sheds, along with an open silage pit and two round-roofed fodder sheds.

At auction the farm was offered in lots. Lot one was made up of the house and yards on 47.5ac. It opened at €300,000 and with three local bidders in the chase the price went up in tranches of €20,000 to €500,000. It then went in €10,000s up to €650,000.

At this point Mr Howell withdrew the property and returned at a later point in the auction and put it on the market at €650,000. After a number of later bids it sold for €690,000 to a local farmer.

The second lot comprising 19.4ac opened at €170,000 and again three local bidders battled it out. Bidding continued to €230,000, at which point the property was withdrawn. It was reintroduced later and was put on the market at the €230,000 price. It eventually sold to a local farmer for €245,000.

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Lot three, a 21.5ac parcel, opened at €150,000 and attracted three bidders. It went on the market at €180,000 and sold for €196,000 to local farmer. The last lot, a 23.6ac section, opened at €140,000 but was withdrawn and sold after the auction to the sole bidder for €169,000.

Mr Howell was delighted with the sale and pleased that all the customers for the property were local farmers,

"It is great to see the neighbouring farmers buying land like this," he said.

Irish Independent