Over €21,000/acre at auction for 106ac Wexford farm
The quality sheds on the 106-acre farm sold at auction, Gorey, Co. Wexford.
There were approximately 30 people present at the Ashdown Park hotel in Gorey on Monday of last week (the 11th of August) for the auction of a 106-acre farm at Banogue, Co. Wexford.
With simultaneous bids coming online, the auction was handled by Gorey-based David Quinn of Quinn Property.
With high-quality acreage, a derelict period residence and a location adjacent to a motorway, this was always going to be a farm that ticked the boxes for a lot of potential buyers. The opportunity to purchase such a large amount of land in one lot was another big draw.
“Adding further appeal is the property’s close proximity to the beautiful Wexford coastline,” said David, “with a selection of renowned sandy beaches and coastal amenities only a short drive away.”
The property was offered in the following lots:
Lot 1 (45.6 acres with derelict residence); Lot 2 (62 acres); Lot 3 (entire holding).
With a pre-auction price guide in the region of €1,800,000, David commented that he had “fielded enquiries from far and wide from the opening days of advertising… this carried through up until the day of the auction.”
After early bids both online and in the room, the individual lots totalled €1,840,000 in the early round. The entire farm was offered for sale and trumped that value with a bid of €1,950,000 (€18,400/acre). No further bids were received on Lots 1 and 2. They were withdrawn and further bidding was invited on Lot 3.
The bids continued to arrive from within the room and online, coming in increments of €50,000. Once the value reached €2,250,000 (€21,200/acre), there was a brief recess during which David took instruction from the vendors. He returned to confirm that the farm was now on the market.
No further bids were received on this extraordinary price and the hammer fell on €2,250,000 – sold to a local dairy farmer.
Speaking immediately after the event, David Quinn described his clients as being delighted with the result and add that “the outcome of the auction exceed all expectations.”
