AUCTION RESULTS €30,000 per acre in Paulstown, Co. Kilkenny
The c. 32 acre holding situated outside Paulstown on the old Duhlin/Kikenny Road, Co. Kilkenny sold for €960,000, a record price of €30,000 per acre for this area. Ed Donohoe, Donohoe Town and Country, reported strong interest in this important sale of 3 roadside fields, describing them as;
“a very fine parcel of grassland with extensive road frontage”. “This is high quality land in a strong farming hinterland where land rarely comes to the market” reported Ed Donohoe.
The auction room at The Clubhouse Hotel was full and the opening bid was €500,000 and it soon went up in increments of €20,000 until it reached €700,000, when it was put formally on the market. Bidding was brisk thereafter with the gavel finally coming down at €960,000.
The property was bought by a local Solicitor. Ed Donohoe reported strong interest from a mix of local farmers and people looking to extend holdings.
“Land of this quality rarely comes to the market in this area and whilst I was surprised that it made €30,000 an acre, I knew it was going to realise a very handsome sum. It is interesting that there are a couple of underbidders out there actively looking for something similar.” ~ Ed Donohoe ~