47-acre Carlow farm achieves €14k an acre at auction

Aerial marked view of the 47-acre farm sold at auction near Bagenalstown

Last featured on these pages in the edition of the July 27 last, a 47-acre farm in the townland of Ballinkillen, near Bagenalstown in County Carlow was sold at an online auction last Friday week.

The vendors were Gorey-based Quinn Property and the property was a roadside holding with two derelict houses on site, offered in one or more lots.

Lot 1 was 20.75 acres with a derelict residence. Lot 2 was 25.5 acres with woodland. Lot 3 was a 0.75-acre plot with a derelict residence. Lots 1 and 2 were guided at between €10,000 and €12,000 per acre while Lot 3 had a guide price of €30,000.

Bidding on Lot 1 began at €180,000, before reaching reached €310,000 (€15,000/acre) after the opening round while Lot 2 was at €200,000 (€7,800/acre) at the same juncture. Lot 3 began with a bid of €20,000 jumping as far as €75,000 after the first round.

After being declared on the market, Lot 1 brought further bids, before being sold for €320,000 (€15,400/acre). Lot 3 experienced another round of rapid bidding before selling for €87,000 — also to a local buyer. Lot 2 went back on the floor and, after breaching the reserve this time, it was sold for €250,000 (€10,000/acre).

After a highly successful day, auctioneer David Quinn had achieved a total sum of €657,000 — approximately €14,000/acre.

“Today’s result and the level of competition on show displays a clear depth of demand for similar holdings in the area,” he said afterward.