A few weeks ago I viewed a circa 92-acre farm at Fairfield, The Still, Enniscorthy.

I had never walked anything like it before – 92 acres completely covered in trees and natural vegetation (a track digger had cleared around the perimeter of each field just for the benefit of viewing). The key ingredient – top quality soil – was inherent and plentiful. A significant level of investment was required. But yet, if anyone suggested that it was going to top €13,500/acre at auction, the reaction would have been one of utter disbelief.

This is what happened in the Riverside Park Hotel last week when selling agent Frank McGuinness and Micheal O’Leary from Sherry FitzGerald O’Leary Kinsella, Enniscorthy, offered the Fairfield farm for sale. Up to 70 people packed into the auction room. While the majority were onlookers, there were plenty of bidders.

While €10,000/acre might have been perceived as the absolute top, the property took an unexpected twist and sold under the hammer for €1.24m or almost €13,500/acre, much to the amazement of the selling agent and many of those present in the room. It’s just goes to show that it is impossible to predict what an auction will bring.

On the day, selling agent Frank McGuinness initially offered the property in two separate lots. A circa 19-acre parcel across the road was bid to €280,000 while the derelict house on circa 73 acres peaked at €820,000. This gave a combined total of €1.1m, which was well ahead of the €750,000 to €950,000 guide price.

Things looked extremely promising but they were about to get better. With that, Frank, opened the entire at €1,120,000 which steadily progressed to €1.2m, at which stage he consulted with the vendors. On his return, Frank declared the farm on the market at €1.2m, at which time, one, if not two new bidders decided to enter the race, bringing the total to four active bidders.

Another €40,000 soon saw the hammer fall at €1.24m to Enniscorthy-based solicitor John Murphy who was acting for an undisclosed client. This works out at almost €13,500/acre, which would be regarded as an exceptional price considering the farm required a substantial level of investment. Among the bidders was another solicitors and two businessmen (one with farming interests). A number of farmers bid on the individual lots.

It’s suggested that the current construction of the M11 motorway has generated a fresh wave of finance in the vicinity as landowners who lost land to the motorway consider reinvesting.

Situated down the road from the renowned Monart Destination Spa, the land at Fairfield hadn’t been farmed in over 15 years and was left completely idle. Consequently, it became increasingly overgrown with trees and natural vegetation, but underfoot it contains the best of soil. About 20 years ago it was the nurturing ground for beet.

In need of a major cosmetic overhaul, the farm is split by the Enniscorthy/Caim road and comes with a derelict residence. Fairfield certainly presents a complete blank canvas for its new owner in terms of layout, crop type and potential buildings. Around six acres are in need of reclamation.