SOLD SEPTEMBER 2020 – Valuable C. 57 Acre Holding With Residential Zoning For Sale By Public Auction On Wednesday The 9th September 2020 At 3pm In The Courtyard, Ferns, Co. Wexford
Today’s auction took place in the Courtyard, Ferns with strict Covid-19 protocols in place. As such, attendance was far lower than would be expected at such an event.
In the run up to the auction, the holding had been guided in the region of €800,000 or €14,035 per acre.
The property was to be offered in the following lots:
Lot 1: C. 17.7 acres with derelict residence
Lot 2: C. 39.2 acres
Lot 3: The entire
Lot 1: Bidding on lot 1 opened at €200,000 and with four bidders it peaked at €400,000.
Lot 2: This lot commenced at €350,000 and with two parties active it reached €400,000.
Lot 3: The entire received strong interest from two bidders and it soon became clear that the offer on the entire would eclipse the joint offers of Lots 1 and 2. Accordingly, Lot 3 was placed ‘on the market’ at €910,000. With rapid bidding, the property went under the hammer for €940,000. The purchaser was an Enniscorthy based solicitor acting in trust.
The auction returned a great result for our client, as the farm made €140,000 in excess of the guide price. The successful bid equated to a price of c. €16,500 per acre.
To view the comprehensive property listing including drone footage please click here
Speaking after proceedings, auctioneer David Quinn believes the result “displays a maintained confidence in the market”. He added that “it was great to see momentum continue with a second successful auction of lands in the Enniscorthy area in the space of a week”. David urged those considering land sales to contact him soon due to a surge in demand in recent months.
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Jack Quinn on Wednesday, September 9, 2020 in Auction Reports