The land at Swordlestown, Naas
In an unusual and perhaps apt setting, Jordan Auctioneers successfully sold 90 acres at Swordlestown, Naasn by public auction on Thursday last.
Conducted on the grounds of the local gliding club, who were flying on the day, it appears the land market was taking a similar trajectory when the gavel dropped at €1,220,000 for the same holding (no alterations) that only achieved €960,000 in 2014. This represented a 27% increase in value over 6 years.
Bidding opened at €700,000 with three bidders. The property was placed on the market at €1,100,000 and two bidders fought it out before the gavel dropped at €1,220,000 equating to €13,555 per acre. The buyer was a solicitor acting in trust for an undisclosed client.
Commenting on the result, Paddy Jordan of the selling agents reported that there had been “far more enquiries for the land this time around”, and that “a number of investors had expressed interest, viewing the land as a safe haven to park funds due to global economic uncertainty and volatility”.
The property is located 5km from Naas and Ballymore Eustace and close to Punchestown Racecourse.
The lands are all in the one currently in tillage but suitable for arable or grazing purposes.
Overall, Mr Jordan stated that the “land market is holding up very well, with good results and strong interest levels with its asset security becoming an ever-increasing important factor”.