REA SPRATT ACHIEVES €1,950,000 FOR FARM AT PUBLIC AUCTION

Spratts on Friday the 23rd of February offered a c.81 acre Residential holding for Sale by Public Auction at the Park Hotel, Dungarvan. The Auctioneers  received a high level of enquiries pre-auction which resulted in a packed Auction Room and adjoining corridor for the 12 noon start. The high level of interest in this farm was reflected on the day by the attendance of 5 Auctioneers and 5 Solicitors in the room representing their respective clients.

 

The property opened at €1,200,000, went on the market at €1,600,000 and the hammer fell at €1,950,000 post receiving 21 bids. The farm was purchased by a Waterford City based Accountant on behalf of a client.

 

Eamonn Spratt who conducted the Auction stated the high level of enquiries which Spratts received for this holding was primarily by reason of the location and quality of the ground.  Eamonn also stated that the challenge of derogation and farmers wishing to retain their stock levels is providing for additional competition to those wishing to increase their land holding.

 

The price achieved equates to €24,000+ per acre which is a very strong price which indicates a positive confidence in the local Agri economy.