45-acre Wexford farm fetches more than double guide price
Marked aerial photo of the 45-acre farm sold for over €26k/acre at auction
A 45-acre property featured on these pages in the September 12 edition was sold at auction last week achieving an extraordinary result, well ahead of expectations.
The lands at Scarnagh, Inch, Co Wexford, varied in quality, ranging from marginal lands that can be improved with investment to quality ready-to-go grassland. The farm features extensive road frontage, a derelict farmhouse and a number of outbuildings.
The farm was presented in 6 lots, plus the entire holding.
Lot 1 (8.6 acres with dwelling) set the scene by opening at €100,000 and quickly progressing to €230,000. The other lots performed similarly well, giving a collective value of €905,000 at the end of the first round of bids.
When the entire holding was offered, that increased to €945,000, but a further round of bids on the individual lots went even higher, and the hammer fell on a figure of €1.2m. At €26,700/acre, it was more than double the pre-auction price guide.
“It was one of the most in-demand properties I have ever sold,” commented auctioneer David Quinn of Gorey-based Quinn Property afterwards.
