Farm Ireland

Tuesday 20 February 2018

A €165,000 bonus for Coillte land

Jim O’Brien

A lovely 64ac piece of Coillte property at Camolin Park, Camolin, Enniscorthy, Co Wexford exceeded its guide price by €165,000 when it sold for €615,000 or €9,600/ac at auction recently.

The lands were used by Coillte as a nursery up to recent years when they were let to a local farmer who has maintained them in tillage and grass. The property is part of the Camolin Park Wood, an area popular for walking and horse riding.

The lands include 49ac which was used for a combination of tillage and grass.

The remaining 15 acres is in forestry with a selection of mature broadleaf and some coniferous trees. The farmyard includes offices, sheds and a cold storage unit.

A crowd of between 80 and 90 people turned up for the auction at the Gorey office of selling agents, Quinn Property.

Four active bidders became involved in the sale, and auctioneer David Quinn believes a further six to eight interested parties were there to buy at a price in or around the guide of €450,000.

Bidding opened at €400,000 and, in increments of €10,000, four bidders drove the price to €560,000, when it was put on the market. Bidding continued until the price reached €610,000, and then a final bid of €5,000 secured the sale at €615,000.

Mr Quinn was not surprised the property made so much more than the guide. “It is a beautiful place and we had lots of interest in the weeks leading up to the sale. It was clear it was going to do well.”

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The successful bidders are a couple from Wexford town with equestrian interests who hope to build a house on the farm.