Tuesday 8 June 2010

Sothern REA sell 41.5 acreas of land at Auction for €466,000

At the auction of a 41.5 acre holding on the edge of Rathdowney it was apparent that most Irish men or women still want to own an acre. Over 50 people attended the auction and there were 5 active bidders. The hammer eventually fell at a figure of €466,000 or an average price of over €11,000 per acre.

The holding bordered on one side by the Erkina River and the other side by Rathdowney Golf Club has been in permanent pasture for many years.

All of the bidders were farmers and it shows that people are still of the opinion that land is best as no more of it is being made and as a long term investment is better than shares or other funds which we have seen decimated over the last couple of years.

George Sothern of Sothern REA was obviously very pleased with the result and he feels that this shows the sound investment land is and the backbone of our economy and country