SOLD MARCH 2022 – Valuable C. 11 Acre Holding With Development Potential (S.T.P.P.) For Sale By Online Auction On Tuesday 1st March @ 3pm
Today’s auction saw C. 11 acres of land at Ferns Upper, Co. Wexford brought to the market. The lands benefit from an enviable location along the N11, within walking distance of Ferns town centre. The property enjoys dual frontage onto both the N11 and the Askamore Road and also has existing access onto both.
The property is currently in grass with access to mains water. It has undoubted development potential due to its proximity to the town centre and several recent developments. Auctioneer David Quinn described the auction as “a rare opportunity to acquire a strategically located site”. He also noted “interest from a range of buyer types”. The property was guided at €150,000 prior to auction.
On the day of the auction, bidding opened at €100,000 and quickly rose as far as €135,000. Bidding continued at a steady pace until €175,000 at which point, a break was called to consult with the vendors. After proceedings resumed, two further bids were placed with the property now at €185,000. After taking client instructions, the auctioneer declared Ferns Upper as ‘on the market’.
After a further bid of €186,000, the property looked set to sell only for a further offer to come in just before the hammer fell. Three more bids were made after the auctioneer had issued a final warning to the room and the property now sat at €189,000. Two further offers was enough to secure the property as the hammer fell at €191,000.
Speaking after the auction, David Quinn expressed his delight with the result as the lands “sold for in excess of €40,000 over the guide price”. He also referenced a “depth of demand for similar properties” due to “the volume of bidders at today’s auction”. To view further information on Ferns Upper, please click here.
Our next auction is scheduled take place on March 22nd, where a mixed use investment property in Bunclody comes to the market. Click here for more information.
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
Tel: 053 94 80000