Co Waterford sale could be worth close to €1.6m

NOBODY expected the close to €1.6 million outcome at last Friday’s auction of this 98-acre residential farm at Lismore, Co Waterford.

The farm was touted pre-auction at €1.3m, but it seems likely the land will make a record-breaking €16,000 per acre, despite all the lots not being sold (one is still in negotiation), according to Eamonn Spratt of Property Partners Spratt.

He offered the Toortane farm to a packed and buzzing auction attendance of over 100 on Friday, initially seeking bids for lots. These comprised 33.86 acres of tillage ground; 57 acres of grassland; and the period property house with 7.5 acres. When a cumulative price of €1.2m was reached, the agent took instructions. At that stage, the 57-acre lot was put on the market, having been bid up to €650,000, and it was eventually knocked down to a local Lismore farming family at €815,000. The €14,298 per acre indicated the quality of the grassland, says Spratt. He continued with the other lots, but when the 33.86 acres failed to rise above €335,000, it was withdrawn, and negotiations are ongoing on this, at substantially more than the auction figure.