Strong auction bidding sees 220ac Waterford farm fetch €2.6m
Prospective buyers from as far away as Wicklow were among those chasing a 220ac residential farm at Faha near Kilmacthomas in Co Waterford which sold at auction last week for €2.6m, over €11,800/ac.
Subject of an executor sale, the farm is all in permanent pasture and has extensive road frontage. Located about 5km from Kilmacthomas, and 20km from Dungarvan, the holding was once an intensive beef and sheep farm and still maintains much of the infrastructure associated with those enterprises.
Divided into three blocks with road frontage on to two roads, the major part of the land is currently let in four separate leases.
The ground is being farmed to a high degree by the tenants, dairy and beef farmers. Laid out in a series of large fields, these are further divided into paddocks.
A public road divides the farm into a number of natural blocks while a road running by the side of the holding gives further extensive roadside access. The house is a solid traditional farmhouse that has been uninhabited for some time and could do with substantial refurbishment.
The yard also has a number of substantial modern facilities including an extensive A-roofed sheep-shed, a slatted cattle shed with yard, a six-column haybarn and two walled silage pits.
At auction, the property was first offered in three lots but only two attracted bids. The real action took place when the fourth lot, or the entire, was offered. This opened at €2.1m and two solicitors acting in trust took to the fray - the property was put on the market at €2.2m and sold eventually at €2.6m.
Auctioneer Margaret Harty described it as a lovely piece of ground. "It is difficult to get a parcel of 220ac of land together in one farm in this area so we had quite a few disappointed customers from nearby East Cork and from as far away Co Wicklow."