A “valuable” c.23.7-acre roadside holding, which is located in Ballyknocken, The Ballagh, Co. Wexford, pushed up to €300,000 at auction earlier this week.
The property, which had a guide price of €10,000 – €12,000/acre, went under the hammer at Riverside Park Hotel, Enniscorthy, Co. Wexford on Wednesday, February 26th.
Ahead of the auction, selling agent, David Quinn of Quinn Property, explained that the holding, which is located along the R741 Wexford to Gorey road, is laid out in four divisions, all of which are currently in grass. “The land is of excellent quality, well fenced, free-draining with a natural water supply and suited to most agricultural uses.”
“There was a large turnout on the day of the auction with approximately 30 people in attendance.” Quinn added.
Bidding opened at €200,00 and quickly reached €275,000 with the help of three bidders, before the hammer fell at €300,000. The price achieved equated to approximately €12,658 per acre and exceeded the guide price.
Strong demand for similar properties
Quinn noted that the purchaser is a local farmer who was seeking to expand his operations. He also noted that the number of underbidders should lead to a strong demand for similar properties in the coming weeks and months.
Image source: Quinn Property