There is little doubt that there is a strong attraction for businesspeople towards farmland. With land prices staying relatively consistent since the price crash in 2009, land is seen as a secure asset by those willing to invest. The auction for the splendid 200-acre farm in Kilgobbon, Bree, Enniscorthy, Co Wexford, last week was another example of this.

Three bidders, an auctioneer acting in trust, a solicitor acting in trust and a Dublin businessman, battled in the auction room for the farm – which finally settled under the hammer for a substantial €1.76m, or €8,800/ac.

Offered in lots previous to the auction, no bids were received on the individual packages.

When the auctioneer handling the sale, Frank McGuinness of Sherry Fitzgerald O’Leary Kinsella, put the entire to the floor, the activity picked up. Opening at €1.3m, or over €6,500/ac, the three bidders pushed the price to €1.6m, at which point the auctioneer bidding opted out.

The solicitor acting in trust remained tough until €1.75m, before the businessman’s final bid of €1.76m initiated his removal from the bidding. Put on the market at €1.76m, the hammer fell and the businessman was successful.

The farm

The property itself contains a traditional home, a comprehensive courtyard, a number of sheds and 199 acres of predominantly good Wexford ground. Previously guided for €1.65m, or almost €8,300/ac, the farm was owned by renowned farmers – the Latta family.

Located circa 10km from Enniscorthy, the land for the most part is very good quality.

Laid out in one block, circa 35 acres would be either of heavy nature or woodland. The 160 acres of good land are divided into tillage and grassland.

An almost 200-acre holding at Kilgobbon, Bree, Enniscorthy, Co Wexford, has hit the market in the last number of weeks.

The house

As you step outside the house, you enter the courtyard. This contains circa 20 horse boxes, with a number of these lofted.

These are in need of modernisation, but with some investment they could be ideal for other agricultural or equine uses.

The residence is a traditional period home that was originally built in 1790. Standing three storeys high and containing five bedrooms, it has been lived in until recent years, but is in need of modernisation and investment.

Spacious and well-lit, the residence contains an entrance hallway, a nicely sized kitchen, a dining room, a sunroom, two utility rooms and a study.

The holding was offered in three lots. The first of these was the period residence, courtyard and outbuildings along with 134 acres; while the second lot was the circa 65 acres of land. It was the third lot however, the entire, which sold on the day.

The farm was auctioned at the Riverside Park Hotel in Enniscorthy.