The site at Mooretown which was sold for €1.17m
Two strategic Naas land holdings at Ladytown and Mooretown were sold at auction yesterday for a total of €2,075,000.
Jordan Auctioneers, Newbridge successfully sold the two plots located between Naas and Newbridge extending to an area of almost 107 acres. The combined selling prices represent a figure of almost €20,000 per acre.
Before an attendance of about 25 people the first property offered for sale was 58 acres of lands at Ladytown with a small 3 bedroom cottage. Bidding opened at €800,000 with several active purchasers, the property was placed on the market by Auctioneer Paddy Jordan at €900,000 and with no further offers was subsequently declared sold.
The second lot comprised 48 acres at Mooretown and this property opened with an initial bid of €600,000. Several parties remained involved before being eventually sold for €1,175,000 which is a figure of just under €24,000 per acre.
Neither of the properties are currently zoned but they are close to a number of existing industrial /commercial developments and there is the possibility of some future potential.
The properties benefited from good access to the M7 and this will be further improved with the completion of the Sallins Bypass and third lane from Naas South on the N7.
Speaking after the auction, Paddy Jordan of the selling agents explained that there had been “exceptional interest in both holdings considering the prime location, accessibility and the quality of the lands.”
He said most of those interested were taking a medium/long term view and included land bankers, pension funds and wealth management agencies.
Both properties were bought in trust by solicitors acting for undisclosed clients.