Bunclody-based auctioneers DNG O’Connor and O’Connor held the successful auction of a 33.6ac farm with derelict house and farm outbuildings and at Craheen, Clonhaston, Co Wexford, on Tuesday 19 December.

Guided in the region of €18,000 to €20,000/ac ahead of the auction, it was offered for sale in its entirety or in lots.

The presence of a derelict house combined with its located between Enniscorthy and the M11 motorway attracted significant interest and resulted in a packed auction room at the Riverside Park Hotel, Enniscorthy.

Demand for rural homes has increased substantially in recent years and whether turn-key or renovation projects, their presence is a bigger contributor to final farm sale price than it was before.

The farmhouse has been vacant in excess of 20 years and requires extensive renovations

This played out as lot 1, the derelict house with farm sheds and stables on c2.3 acres, opened at €120,000.

Bidding continued in increments of €5,000 until it reached €195,000, when it was withdrawn. It was later placed on the market and sold for €203,000.

Lot 2, comprising of 17.6ac of land surrounding the house, has extensive road frontage on the R744 road that connects Enniscorthy town and the M11 motorway. Slightly heavy land, it is laid out in five divisions and all in grass.

This opened at €200,000 and was withdrawn after subsequent offers at €270,000.

It was withdrawn for a second time with no further offers before a price of €360,000 was negotiated after the auction. This equates to €20,431/ac.

The derelict farmhouse, sheds and yard set on 2.4ac formed Lot 1.

Consisting of 13.59ac of grassland laid out in three divisions and with double road frontage, lot 3 opened at €200,000 and rose in bids of €5,000 and €10,000 to reach €350,000 before it was withdrawn and subsequently sold for that price. This resulted in a price of €25,754/ac.

This amounts to a combined total of €913,000 for the 33.6ac residential farm or €27,173/ac. Removing the price of lot 1, which contained the house, leaves a price of €22,764/ac for the agricultural land. It is reported that all buyers were local with farming and business interests.