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HomeFarming NewsVIDEO: 87-acre residential holding sells for over €1.7 million
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VIDEO: 87-acre residential holding sells for over €1.7 million

A circa 87-acre residential holding with an extensive range of outbuildings went under the hammer yesterday (Wednesday, September 2nd), with a guide price of €1.2 million.

The selling agent, David Quinn of Quinn Property, reported “strong levels of interest” in the holding at Coolnahorna, Scarawalsh, Enniscorthy, Co. Wexford prior to the auction.

The property was offered in the following lots:

    • Lot 1: C. 48.7-acres;
    • Lot 2: Residence and farmyard on c. 7.38-acres;Lot 3: C. 30.76 acres;
    • Lot 4: The entire.

Auction

Lot 1 attracted three bidders and went on the market at €550,000. With brisk bidding, lot 1 went under the hammer at €770,000 equating to over €16,000 per acre. The successful bidder is a local businessman, according to the selling agent.

Lot 2 proceeded in a “similar fashion” with five bidders in total. The residence and farmyard were declared on the market at €480,000. Bidding peaked at €615,000 with the purchaser a local accountant acting in trust.

Lot 3 received bids from two parties with the 30-acres going on the market at €365,000. With no further bids being made, lot 3 sold at €365,000.

Lot 4 comprised of the entire holding. It received a “solitary” bid of €1,335,000 from a Munster-based farmer, however, this was “trumped” by a total of €1,750,000 for the three individual lots.

‘Substantial vote of confidence’

Speaking yesterday (Wednesday, September 2nd), auctioneer, David Quinn, said: “Attendance at today’s auction was again hampered by COVID-19 regulations, however, activity was far from subdued.”

He hailed the result as a “substantial vote of confidence in the local property market” given the size of the holding.

“This an exceptional result that displays the strong demand for quality holdings in County Wexford.” he concluded.

Image and video source: Quinn Property

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