SOLD AUGUST 2021 – Valuable C. 24.3 Acre Roadside Holding With Derelict Farmhouse & Farm Buildings For Sale By Online Auction On Wednesday the 25th August At 3pm (In 1 or 2 Lots)
Today’s auction saw some excellent quality land along with a derelict cottage brought to the market. The property is well located, just 3km from Ferns. Lot 1 includes a derelict cottage which has been unoccupied for some time as well as a shed and a farmyard.
In advance of the auction, the property was guided in the region of €370,000. Auctioneer David Quinn noted that there was “a good deal of interest” in the property with close to fifteen parties registering to bid.
The property was offered in the following Lots:
Lot 1: C. 7.2 acres with derelict cottage & shed
Lot 2: C. 17.1 acres
Lot 3: The entire – C. 24.3 acres
Lot 1 opened at €80,000 and quickly rose as far as €130,000. Two further bids were then placed which brought it as far as €145,000.
Bidding on Lot 2 commenced at €160,000 and similar to Lot 1 there was quickfire bidding. A sum of €210,000 was reached.
Lot 3 (The Entire) needed to register an offer in excess of €355,000 in order to trump Lots 1 and 2. A bid of €365,000 was made just as the entire was about to be withdrawn but no further bids were forthcoming at this time.
Prior to taking client instructions, the auctioneer ran through each lot again to attain a better sense of how a sale might proceed. Lot 1 had two more bids which brought it to €165,000. Lot 2 promptly received four further bids brining it as far as €230,000. Lot 3 then moved past the combined bid of €395,000 with a bid of €400,000.
After a brief recess to take instructions, David Quinn resumed the auction and confirmed that the property had passed its reserved and so it was now ‘on the market’. After one additional bid on Lot 1 the hammer fell at €170,000. There was tougher competition for Lot 2 which sparked a bidding war between several parties. A bid of €235,000 was made to initiate the final round of bidding on this lot. However frantic bidding ensured that Lot 2 continued as far as €324,000 before it was sold. The combined total of the price achieved equates to €494,000 (€20,329 per acre), well in excess of the guide.
The auctioneer was pleased with the result of the auction. He stated how “the result of this auction clearly demonstrates the depth of demand for holdings of various sizes in the North Wexford area. There was a variety of interested parties who will remain in the market for similar properties having failed to secure either of today’s lot.”
To view the full property listing, please click here.
Our next auction takes place on the 1st September where we will be bringing a spectacular coastal holding to the market near Blackwater. For further information, please click here.
QUINN PROPERTY – No.1 Independent Auction House in the South-East
Tel: 053 94 80000
Jack Quinn on Wednesday, August 25, 2021 in Auction Reports