Johnstown, Arklow, Co. Wicklow – Auction Report
SOLD APRIL 2023 – Valuable C. 40.5 Acre, 4 Bedroom Residential Holding For Sale by Online Auction On Wednesday 3rd May at 3pm (In 2 Lots)
Today’s auction saw a a substantial holding and residence brought to the market in separate lots. Auctioneer David Quinn described the land as having “good frontage onto the public road and is of excellent quality with free draining soils, suitable for tillage or grassland production”. David added that “the house is in good condition and benefits from a well-maintained garden with a selection of mature trees and shrubbery”.
The property was offered in the following lots:
Lot 1: c. 40.5 acres with farmyard
Lot 2: residence on C. 0.5 acres
Lot 1 was guided between €12,000 – €15,000 per acre while Lot 2 (the residence) was guided at €180,000. According to David, there was almost fifteen registered bidders for Lot 1 and five registered bidders for Lot 2.
On the day of the auction, Lot 1 opened at €400,000 and with lively bidding, the property quickly moved beyond, €600,000. With no signs of slowing down, bids continued to fly in as the €700,000 mark and then €800,000 mark were surpassed. The auctioneer called a break to take client instructions with the bidding at €820,000 and already above the guide price.
Upon his return to the auction room, Mr Quinn declared the property “on the market and here to be sold”. The pace of bidding showed no signs of slowing down, as the c. 40.5 acres soon reached €1 million. Following four additional bids, the hammer fell at €1.06 million (€26,174 per acre). There was seven different bidders and purchaser was identified as a local dairy farmer.
Lot 2 commenced at €150,000 and after five further bids it reached €200,000. With strong competition for the house, bidding continued until the hammer fell at €220,000, €40,000 above the guide price. According to David, there were “three active bidders for the residence”.
Following the auction, Mr Quinn said he was “thrilled to have overseen yet another ground-breaking result”. “We are very pleased to have secured a strong price for both lots, particularly Lot 1, where a price of over €26,000 per acre was achieved”. He added that “today’s result and the results of recent auctions point to a remarkably strong market for land and country homes in the Southeast”.
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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.
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