A smashing sale” was the first thing that auctioneer Paddy Jordan said to describe his most recent auction. The sale in question had been highly anticipated in the local area for quite some time and it did not disappoint. The farm sold in the entire for €1.5m or almost €19,000/ac.
The 79 acres in Rathnure in Co Wexford had been the centre of attention for many local farmers for some time. It was widely known in the locality that the farm would come to the market at some stage in 2019.
The talk prior to the auction was that farmers and individuals were getting their affairs in order to be ready for the auction.
The pre-auction speculation was clearly justified. Between the five lots offered (including the entire) there was between 15 and 20 bidders. This included crossover bids for the different lots, the agent stated.
While the price achieved was extraordinary, it was slow to kick off. After the first round of bids, neither lot one (the house, yard and 6.6 acres) nor lot three (34.3 acres) had any bids. The second and the fourth lots both received bids, but nothing to write home about. It was only when an opening bid of €1.26m or €16,000/ac was placed on the entire and a subsequent break was taken, did things begin to kick start.
Upon resumption, the accumulation of the individual lots reached the following prices:
Lot one: The house and yard on six acres was bid to €190,000.Lot two: 21.4 acres was bid to €460,000 or €21,500/ac.Lot three: 34.3 acres was bid to €500,000 or €14,600/ac.Lot four: 16.5 acres was bid to €310,000 or €18,800/ac.The total combined value of the individual lots came to €1.46m or €18,500/ac. Each of the bidders on these individual lots were believed to be local.
Sold in the entire
However, it was the entire that sold. The final bid of the day was by a solicitor in trust who placed €1.5m on the holding. That equates to €19,000/ac. Paddy Jordan dropped the hammer.
The solicitor was from Athlone and the identity of the buyer was not disclosed.
The farm
The farm is situated in a renowned agricultural area in the village of Rathnure, with the edge of the farm fronting onto the village itself.
The quality is evident. The ground has been in tillage for a number of years. The land is in one block and laid out in a number of fields. The entire was mostly very good quality land with natural boundaries and hedgerows throughout.
The residence is a two-storey farmhouse with rear extension on a lovely elevated site. It was approached via a tree-lined avenue and set back from the road. Although in need of modernisation, the 2,475 sq ft home comprises of a number of reception rooms in addition to four bedrooms.
Located inside the main entrance was also an old gate lodge/cottage which is derelict but would be ideal for replacement at a future date.
A smashing sale” was the first thing that auctioneer Paddy Jordan said to describe his most recent auction. The sale in question had been highly anticipated in the local area for quite some time and it did not disappoint. The farm sold in the entire for €1.5m or almost €19,000/ac.
The 79 acres in Rathnure in Co Wexford had been the centre of attention for many local farmers for some time. It was widely known in the locality that the farm would come to the market at some stage in 2019.
The talk prior to the auction was that farmers and individuals were getting their affairs in order to be ready for the auction.
The pre-auction speculation was clearly justified. Between the five lots offered (including the entire) there was between 15 and 20 bidders. This included crossover bids for the different lots, the agent stated.
While the price achieved was extraordinary, it was slow to kick off. After the first round of bids, neither lot one (the house, yard and 6.6 acres) nor lot three (34.3 acres) had any bids. The second and the fourth lots both received bids, but nothing to write home about. It was only when an opening bid of €1.26m or €16,000/ac was placed on the entire and a subsequent break was taken, did things begin to kick start.
Upon resumption, the accumulation of the individual lots reached the following prices:
Lot one: The house and yard on six acres was bid to €190,000.Lot two: 21.4 acres was bid to €460,000 or €21,500/ac.Lot three: 34.3 acres was bid to €500,000 or €14,600/ac.Lot four: 16.5 acres was bid to €310,000 or €18,800/ac.The total combined value of the individual lots came to €1.46m or €18,500/ac. Each of the bidders on these individual lots were believed to be local.
Sold in the entire
However, it was the entire that sold. The final bid of the day was by a solicitor in trust who placed €1.5m on the holding. That equates to €19,000/ac. Paddy Jordan dropped the hammer.
The solicitor was from Athlone and the identity of the buyer was not disclosed.
The farm
The farm is situated in a renowned agricultural area in the village of Rathnure, with the edge of the farm fronting onto the village itself.
The quality is evident. The ground has been in tillage for a number of years. The land is in one block and laid out in a number of fields. The entire was mostly very good quality land with natural boundaries and hedgerows throughout.
The residence is a two-storey farmhouse with rear extension on a lovely elevated site. It was approached via a tree-lined avenue and set back from the road. Although in need of modernisation, the 2,475 sq ft home comprises of a number of reception rooms in addition to four bedrooms.
Located inside the main entrance was also an old gate lodge/cottage which is derelict but would be ideal for replacement at a future date.
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