78-acre Waterford holding achieves record €3.1m at auction

The lands (all in grass) of the 78-acre farm had been carefully farmed through the years.

Last featured here on March 17, a large 78-acre holding in Waterford went under the hammer on Friday, April 10, at the Woodlands Hotel in Waterford city.

Des Purcell of Purcell Properties was the man with the gavel on the day and the venue was packed, already indicative of strong interest in such a rarity of a large agricultural holding so close to Ireland’s oldest city.

This was essentially a large agricultural holding that came with plenty of tangible hope value for development further down the line.

Located at Bishopscourt, Grantstown, the farm hugs the edges of Waterford city, being close to University Hospital Waterford and Ballygunner National School. It was presented in lots: Lot of 31.8 acres; Lot 2 of 46.3 acres and Lot 3 being the entire.

Lot 1 had the benefit of a four-bedroom residence with outbuildings and the lands (all in grass) had been carefully farmed through the years.

On the day, the first two lots generated some interest. However, when the entire was put up for sale, this proved to be much more attractive. 

After some spirited bidding, the holding was placed on the market at €2.9m and knocked down at €3.1m (€40,000/acre).

Given that the pre-auction guide was €2,175,000, this was an extraordinary result.

“We were very pleased with the result,” commented Des afterwards. “The price achieved was particularly strong and was indicative of the very lively demand for good agricultural and development opportunities.”