A price of €3.1million was achieved at public auction for a 78 acre agricultural and residential holding at Bishopscourt, Grantstown, Waterford.
This represents circa €40,000 per acre and is a record price for a farm of this nature.
The farm is located off the Grantstown Road, which in turn is off the main Waterford / Dunmore East Road and located approximately 3 miles from Waterford city centre.
The auction which was conducted by Conor Purcell of Purcell Properties was held in the Woodlands Hotel with a very large attendance.
The land was offered for sale in three lots being residence and outbuildings on 32 acres constituting Lot 1 and the remaining 46 acres on Lot 2. However, when the entire was put up for sale this proved to be sharply more attractive and after spirited bidding the holding was placed on the market at €2.9millon and knocked down at €3.1million.
In a comment Conor Purcell stated that the price achieved was particularly strong and was indicative of the very lively demand for good agricultural and development opportunities.
There was a strong local interest in the farm and three bidders contested strongly following the opening bid of €2.5million. It is believed the farm affords some long term development potential given its immediate proximity to the very popular and highly developed Grantstown Road and major facilities including Ballygunner National School and University Hospital Waterford.
