Farmland in Co Wexford makes almost €20,000/ac at auction
Farmland of 18.8 acres, made almost €20,000/acre at auction recent when it was sold at auction by Gorey-based auctioneer Denis Howell.
Howell, of Warren Estates, said the 18.8 acre parcel of farmland at Kilmurray, Gorey, is about 1.5km from the town. “It has been used for nothing but agricultural use, being leased and grazed by local farmers for the past number of years.”
Laid out in two fields, he said the farmland is very dry and had garnered much attention from local farmers before the auction.
A local dairy farmer was the runner up bidder on the day, while the successful bidder (another local farmer) was bidding on behalf of his brother who lives abroad.
Denis said he guided the land at €14,000 per acre in the run up to the auction, based on previous land sales in the area, and the final price was exceptional.
Howell also sold 90 acres in Camolin before Christmas and that made just over €14,000/acre and said that the demand for land is still strong in the south east.
Bidding on the day opened at €200,000 and moving in increments of €20,000 a bid, it soon reached €320,000, when the land was put on the market.
Bids then continued at €10,000 before it sold for €360,000.