Wexford beach-side land
There was big interest in a Co Wexford farm which was sold in an online auction by Quinn Property – 25 individuals registered in advance to bid.
It eventually sold in lots for €22,500/ac.
The 72ac farm is called Old Mill, it’s 5km south of Rosslare harbour and has a partially completed house.
Lot 1 – 11.5ac fronting the beach – was bought by a Wexford person for €430,000, just over €39,000/ac.
Lot 2 – 55ac of farmland – was bought for €660,000 or €12,000/ac by a man bidding from the USA. Lot 3 was the house on 5.5ac. It was sold to a Wexford person for €530,000. Total sale proceedings were €1.62m.
“It was the highlight of the year, so far, for us,” auctioneer David Quinn said. “We’re seeing big demand for coastal properties – people are in a staycation frame of mind.”
Strong demand in Meath
There was also good interest in two Co Meath farms sold at auction in recent days. REA Thomas Potterton sold 39ac with a house at Rathmolyon in four lots in an in-person public auction in an open hayshed at Trim Mart. One of the lots was bought by a farmer, the other three by business people.
Lot 1 was the house on 5.5ac. It opened at €300,000 and went on the market at €420,000 before selling at €430,000. Three bidders took part and the buyer is a business person with farming interests.
Lots 2 and 3 were exhausted sandpits and both were bought by individuals with commercial interests. Lot 2, on 4ac, opened at €20,000 but five bidders then brought it on to its selling price of €100,000. The buyer is from Athlone.
Lot 3 was on 4.5ac. It opened at €50,000, went on the market at €91,000 and was sold at €100,000.
Lot 4 was 25ac – the balance of the farmland. It opened at €150,000. Three bidders brought it to €220,000, at which price it went on the market. It was knocked down at €225,000 or €9,000/ac. The buyers are father and son Sean and Raymond Heffernan who farm locally in dairying.
Auctioneer Thomas Potterton said that the total of the sale was €855,000 equal to just under €22,000/ac.
Meanwhile, Sherry Fitzgerald successfully auctioned the 109ac farm at Killyon, Hill of Down on 21 July. This was a non-residential farm of good-quality land, all in grass, laid out in three fields. The farm is off the R161, 5km from Ballivor, 11km from Kinnegad and 15km from Trim.
The auction opened at €750,000 and after a total of seven bids it had reached €1m. The property went on the market at this price and after a further six bids of €5,000 each the land was sold for €1.03m equal to €9,450/ac.
Tipp farm sold
Cashel Mart had a successful auction of 61.5ac at Drombane in Co Tipperary last week. The farm opened at €350,000, was taken by five bidders to €600,000, at which point it went on the market. Two bidders then fought it out with a local business person winning out at €802,000 or just over €13,000/ac.
Jordan Auctioneers successfully sold a derelict residence with outbuildings on 8.5ac, located 2km from the village of Killenard, Co Laois, last Friday for €360,000. Four bidders took part with the buyer having local connections.
Murtagh Bros auctioned 53ac at Derryhaun, Co Longford, on Friday 23 July. The property opened at €150,000 and was bid to €175,000, after which it was withdrawn. Negotiations then took place with the highest bidder. Auctioneer Dillon Murtagh said the farm was sold for a considerably higher figure.