Brace of farms sell to local farmers post-auction
The lands at Rosdellig, Borris, Co Carlow, were sold following negotiations after the auction.
Gorey-based auctioneers Quinn Property recently had further success with another brace of online auctions.
The first was on February 27 last, when a 20-acre quality grassland holding at Rosdellig, near Borris, Co Carlow, was presented in two lots: Lot 1 of 11.9 acres; Lot 2 of 9.1 acres; Lot 3, the entire.
With a small yard, including a derelict former dwelling house, there was some potential for limited development.
On the day, the combined value of Lots 1 and 2 surpassed that of Lot 3. Lot 3 was withdrawn but Lots 1 and 2 failed to reach their reserve value on the virtual auction-room floor, finishing at €130,000 and €95,000 respectively.
Auctioneer David Quinn then withdrew lots 1 and 2 and commences negotiations with the highest bidders of each lot.
“We’re delighted to confirm that the lands were sold following successful negotiations immediately after the auction for a higher sum,” said Mr Quinn, adding “two local farmers” were the successful purchasers, resulting in a price that exceeded €9,000/acre.
The second auction took place 11 days later on March 10. It was for a 25-acre farm in North Wexford that went under the hammer, also in three lots: Lot 1 (16 acres); Lot 2 (9 acres); Lot 3 (the entire).
The grasslands had good road frontage and free-draining soils, according to the agent, who was quoting a pre-auction guide price of €15,000/acre.
Lot 1 opened at €200,000, quickly climbing to €300,000 (€18,750/acre) with five further bids. Lot 2 began at €120,000 and reached €180,000 (€20,000/acre).Â
However, after the highest bid on Lot 3 (€500,000) surpassed the combined values of the other two lots, auctioneer David Quinn offered the entire holding once more, as the farm had not reached the reserve.
With no further bids received, the farm was withdrawn at €500,000 (€20,000/acre). The property was sold following negotiations with the highest bidder immediately afterwards for a higher sum.
“Our client was extremely pleased with the outcome,” said Mr Quinn, adding “strong demand for agricultural land continues in North Wexford”.
