Farm Ireland
Independent.ie

Friday 27 April 2018

Withdrawn Wicklow lots go for €500k

Guide for residential holding not hit and farm is split for later sale

Jim O’Brien

A 63.35ac residential holding with extensive farm buildings at Merginstown Glen, Dunlavin, Co Wicklow, sold in two lots after being withdrawn from auction at Baltinglass last week.

=Originally guided at around €600,000, it is understood the price paid for the lots was somewhere in the region of €500,000.

David Quinn, of local selling agent Quinn Property, said a fine crowd gathered at Germaine's Hotel, Baltinglass, for the auction.

When the entire was offered for sale there were no bids. At that point, bidding for the residence, farmyard and 12.35ac opened at €150,000. Three bidders showed interest and the sale progressed slowly until the lot was withdrawn.

Attention then switched to lot two consisting of 51ac divided into four grazing divisions. This lot opened at €250,000 but there were no bids.

The auctioneer then went back to lot one and the three original bidders took the price to €185,000 when it was withdrawn again. The lot was sold immediately after the auction for a price greater than the final offer. A young farming couple from the locality were the successful buyers.

Lot two, the 51ac plot, was re-introduced at €250,000 and, in bids of €5,000, it climbed slowly to €270,000. At that point it was withdrawn and sold immediately afterwards to a local dairy farmer for a price in excess of the final bid.

Mr Quinn also handled the sale of three other properties over the past fortnight. A crowd of around 40 people had gathered for the auction when the first piece of property to be offered was a six-acre field at Rosnastraw, Tinahely, Co Wicklow. Guided at €10,000/ac, it opened at €50,000 and, in the absence of bids, was withdrawn and sold immediately after the auction for a price in the region of the guide.

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A 9.5ac piece of ground located at Knockreagh, Ferns, Co Wexford, offered in two lots was next for the hammer. Lot one, a 3.6ac field with planning permission for one house, was offered with a guide of €70,000. There was lively bidding on the piece, which opened at €50,000, and was knocked down to a local businessman for €90,000.

Lot two, a six-acre field which was guided at €80,000, opened at €40,000 and four keen bidders drove the sale until the field was bought by a local farmer for €85,000.

A 25ac residential holding at Kilqueeny near Avoca, Co Wicklow, was sold privately. Along with the 25ac, the farm had a nice selection of sheds, outoffices and a 10-year old dormer residence in excellent condition.

Originally guided at €500,000, the holding failed to sell at auction and the price was reduced to €425,000. Recently, a lady with equestrian interests in the Avoca area bought the farm for a sum close to the reduced guide price.