Record price of €30,000 per acre for lands in Paulstown

A prime parcel of land, c. 32 acres situated at Paulstown, Co. Kilkenny sold for a record price on Thursday last when it made a handsome price of €960,000, a record price of €30,000 per acre for this area. 

Ed Donohoe, Donohoe Town and Country, reported strong interest in this important sale of three roadside fields.  The lands are situated outside Paulstown on the old Dublin/Kikenny Road and was, as described by Donohoe “a very fine parcel of grassland with extensive road frontage”. 

“This is high quality lands in a strong farming hinterland where land rarely comes to the market” reported Ed Donohoe.

Ed Donohoe, Auctioneer

The auction room at The Clubhouse Hotel was full and the opening bid was €500,000 and it soon went up in increments of €20,000 until it reached €700,000, when it was put formally on the market.  Bidding was brisk thereafter with the gavel finally coming down at €960,000. 

The property was bought by a local solicitor.  Ed Donohoe reported strong interest from a mix of local farmers and people looking to extend holdings.  “Land of this quality rarely comes to the market in this area and whilst I was surprised that it made €30,000 an acre, I knew it was going to realise a very handsome sum. It is interesting that there are a couple of underbidders out there actively looking for something similar.”