SOLD JULY 2021 – Valuable C. 41.5 Acre Roadside Holding For Sale by On-Line Auction on Friday 2nd July in one or two lots.
Friday’s auction saw a lovely parcel of land near Enniscorthy brought to the market. The lands are generally free draining and suitable for most agricultural enterprises. It has the benefit of natural water from the Bann River as well as having a cattle crush and handling facilities. Eight parties had registered to bid in advance of the auction, with the entire holding guided at €400,000.
The property was offered in the following lots: Lot 1: C. 7 Acres, Lot 2: C. 34.5 Acres, Lot 3: The Entire.
Bidding on Lot 1 started at €100,000. After steady bidding it reached €140,000.
Lot 2 opened at €230,000 and after quick fire bidding it peaked at €310,000.
Lot 3 (the entire) received an initial bid of €460,000, meaning it surpassed the sum of Lots 1 and 2 in the first round of bidding.
After a short break to take instructions from the vendor, further bids were sought for Lot 1 but none were placed. The auctioneer then proceeded to seek further offers for Lot 2. Two further bids were made which brought this lot up to €330,000. The total offer on Lot 1 and 2 now equalled €470,000. An offer in excess was provided and Lot 3 was now up to €480,000.
After a final consultation with the vendor, David Quinn announced each lot would be offered to the market one more time. Lot 1 received two more bids and now stood at €150,000. No further bids were made for Lot 2, it remained at €330,000. A bid of more than €480,000 would be required to secure the entire. An additional €5,000 was all it took to purchase the entire c. 41.5 acre farm for a total of €485,000.
Speaking after the auction, David Quinn noted that “while the price per acre may not appear as high as recent sales the holding contained approx. 5.5 acres of forestry land. In addition, there are a number of rights of way and the land is split by the railway line. Overall, the price achieved exceeded expectations and I am pleased to report that the vendor is happy with the result”.
To view the full listing of Killabeg, please click here.
Our next auction takes place on Wednesday, where a charming c. 19 acre holding with derelict farmhouse will be offered to the market. Click here for more details.
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Jack Quinn on Monday, July 5, 2021 in Auction Reports