A 72ac parcel of land at Bestfield on the edge of Carlow and described by Jordan Auctioneers as "development land with agricultural potential" sold at auction last week for €930,000 or almost €13,000/ac. The property was bought by a farmer from the Athy/Carlow area.
Adjoining the old sugar factory, the majority of the land is zoned for residential and industrial use in the current local area plan.
Before a packed auction room the property was opened with an initial bid of €500,000 with five active bidders.
The property was placed on the market at €810,000 and three final bidders fought it out before the hammer was dropped at €930,000.
The price achieved was well in excess of the guide price of €10,000/ac and, according to Paddy Jordan, the price reflects the growing trend of development lands achieving only marginally more than base agricultural values.
"There were four disappointed under-bidders on the day and clearly a strong appetite for lands in the area," he said.
The property is located circa 2km north of Carlow town on the R417 Athy-Carlow road and is all in one block with good road frontage onto the R417 and is bounded by a canal to the west. The land was sown in winter corn and according to the selling agents was renowned for its excellent quality and suitable for any number of uses.