Elevated lands in Waterford fetch an impressive €14k/acre at auction
Some of the lands at Knockavinnia, Waterford, sold at auction
A property that featured on this site on March 31 was successfully actioned on Tuesday last week at the auction rooms in Clonmel of P.F. Quirke & Co.
The 26-acre holding at Knockavannia, Ballymacarbry, County Waterford consisted of elevated but good quality hilly land.
“It’s elevated land and it’s more mountain than it is low land but it’s level land on a plateau,” said auctioneer Pat Quirke.
Before a room of approximately 15 people, the holding was presented with a pre-auction price guide in the region of €12,000/acre.
The bidding opened at a respectable €200,000 (€7,700/acre). Increasing in increments of €10,000 and then €5,000, the bidding continued until it reached €315,000 (€12,100/acre).
Following consultation with the owners, the property was placed on the market at that point. The bidding then resumed apace and it was after 37 bids had accumulated a price of €367,000 that the hammer eventually fell.
The price equates to €14,100/acre; above expectations and a price that Pat Quirke commented afterwards was a “great price for elevated mountain land”, while acknowledging that the quality of this particular land was relatively very good.
“It has been a successful April for us,” says Pat. “We’ve had more auctions than usual and all land offered resulted in sales – and at a strong price level too.”—
