A Cheap Estate.

Wairarapa Daily Times, Volume IX, Issue 2937, 29 June 1888, Page 2

A Cheap Estate.

The London Times of a recent date has the following :-The sale which took place the other day at an auction mart of a large estate in the County .. of Mayo, shoived the ruinous decreasein value of landed property, which is. J now going forward in some parts of.X' Ireland. Messrs Dowsett and Co. submitted to competition, by direction of the trustees of the late Earl of Cavan, the Tanetan Valley estate, in the Island of Achill, comprising 2068 acres of freehold land, including the ■ whole island, with house, entrance lodge, and scattered hamlet of fiftythree cottages. There was a very numerous attendance at the sale'. The auctioneer, before iuvitiug offers, described the property as one of the < finest sporting estates in Ireland. He . added that the estate had cost many thousands of pounds, but, as the ' executors must realise at the present sale, there had been placed a very low upset price on the property in order to ensure a sale. In answer to questions the auctioneer admitted that only 243 acres out Of the entire 20G8 acres were let, and that the tenants were three years in arrear with their rents. The bidding commenced with an offesT'oK"" ' £OOO, and £OBO having been reached without any further advance, the'.' auctioneer declared it sold, adding that in his opinion the price was really tantamount to giving the property away, considering the many attractions it possessed of fishing, shooting, and yachting. The purchase-money represented about Gs an acre, being, perhaps, the very lowest price at which land was ever sold in any part of the United Kingdom or any other country in Europe."