SOLD DECEMBER 2022 – Valuable C. 14 Acre Holding With Derelict Residence & Yard For Sale By Online Auction on the Friday 16th December At 4pm In 1 Or More Lots
Today’s auction was our final auction of 2022 and was eagerly anticipated since its launch. Auctioneer David Quinn noted strong demand from local farmers and business people with almost fifteen registered bidders. The property was guided at €12,000 per acre in advance of the auction.
The property is suitable for a range of farming enterprises and will be offered in the following Lots:
Lot 1: C.1 Acre
Lot 2: C. 9.7 Acres With Derelict House & Yard
Lot 3: C. 3.3 Acres
Lot 4: The entire
On the day of the auction bidding on Lot 1 opened at €5,000 and quickly rose as far as €11,000. Lot 2 opened at €80,000 and reached €130,000 after initial bidding. Lot 3 started at €30,000 and finished at €60,000 after the first round of bidding. This meant that a bid in excess of €201,000 would have to be placed on Lot 4 (the entire) for it to remain an option.
It was immediately apparent that there was strong interest in the entire (Lot 4) with prompt bids of €221,000, €231,000, €236,000 and €241,000 being made. As a gap had opened up between the entire and the separate lots, the auctioneer ran back through Lots 1 to 3 before taking client instructions. A new bidder on Lot 1 brought the c.1 acre plot up to €13,000, a flurry of additional bids on Lot 2 increased the offer to €200,000 for the c. 9.7 acres with derelict house and yard but there were no further bids on Lot 3.
Upon returning to the room, David Quinn opened bidding on the entire, which now needed to beat the combined total of €273,000. For the second time of the day, it was clear that there was serious interest in Lot 4 as bidding jumped from €283,000 to €308,000 in the blink of an eye. Although the auctioneer, gave the individual lots a chance to make up the lost ground, there were no further bids on Lots 1 and 2, meaning that Lots 1 to 3 were withdrawn and Lot 4 (the entire was placed on the market).
With three bidders battling for the entire, there was fierce competition right until the end of the auction. Bidding resumed at €310,000 continued to surge upwards towards the €350,000 mark before settling down. Following a couple of bids prompted by the warning of the auctioneer, the hammer ultimately fell at €360,000 (€25,700 per acre). The purchaser was a local person with equestrian interests.
Speaking after the auction, David Quinn commented that “this was a truly remarkable result, well above the typical price of €15,000 per acre paid for similar holdings. It was great to end the year securing a record price. I would like to congratulate the purchaser on their acquisition.”
To view the full property listing please click here. Please keep an eye on our website and social media channels for upcoming auctions in the New Year.
With the property market continuing to perform well, please contact us if you are considering selling your property, either by way of auction or private treaty.
QUINN PROPERTY – No.1 Independent Auction House in the South-East