A smashing 64.3-acre parcel of land in Oghil, Redcross has been sold in advance of its auction date for a strong price.
Auctioneer David Quinn had guided the property between €10,000 and €12,000 per acre and had noted good interest in the substantial holding. The property was set to go under the hammer on December 7 but was sold prior to the auction after “a strong offer” in excess of the guide price was made.
Property agent Jack Quinn said that he wasn’t surprised with the high level of interest in the attractive property, which is located within 1km of Redcross Village and is comprised of well-farmed lands that are of excellent quality.
“We were approached by a few parties in advance of the auction and, after some negotiations, our client was happy to accept one of those offers,” Jack said.
“Unfortunately, because the property didn’t go to auction, we can’t disclose the price that was paid. Needless to say, a fee was received that was higher than the initial guide price.
“Typically, properties make it to auction day, bar a strong price being paid, which was certainly the case with this Redcross property,” Jack continued. “We would usually get prospective buyers coming to us before an auction, enquiring whether there is any possibility to purchase the property in advance.
“Our response to those requests is usually: ‘Only if you’re willing to put a strong offer forward’. This is because, at the end of the day, the auction has been arranged and prospective buyers are happy for it to go to auction.
“By taking the property off the table we miss out on the potential benefits of competitive bidding on auction day, so any early bids are typically quite rewarding.”