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Knockanree, Avoca, Co. Wicklow – Auction Report

SOLD SEPTEMBER 2022 – Excellent C. 50.6 Acre Residential Holding With Extensive Road Frontage For Sale By Online Auction On Friday the 23rd of September At 2pm In One or More Lots

Lot 1 Bungalow, Out-houses on C. 9.7Acres

Today’s auction saw a substantial residential holding near Avoca, Co. Wicklow come to the market. Auctioneer David Quinn had guided the property between €12,000 – €14,000 per acre prior to the auction. David noted “strong interest from local farmers and business people” but also added that he had “registered bidders from the neighbouring Counties of Dublin and Wexford”. There was more than ten registered bidders in total.

The property was offered in the following lots:

Lot 1: Bungalow, Out-houses On C. 9.7Acres
Lot 2: C. 40.9
Lot 3: The Entire

Lot 1 attracted plenty of early bidding and reached €270,000 after the first round of offers. Lot 2 began in a similar vein and with more than ten offers, €420,000 was on the table after initial bidding (a combined bid of €690,000 for Lots 1 & 2).

Auctioneer David Quinn

The entire was then offered to the room and it promptly received an offer of €700,000. With the entire now commanding a higher offer than the individual lots, the auctioneer ran through Lots 1 & 2 again seeking further offers. Brisk bidding on Lot 2 brought it as far as €500,000 (a combined bid of €770,000 for Lots 1 & 2). However, an improved offer of €780,000 was then made on the entire.

Another round of bidding on Lots 1 and 2 resulted in a combined offer of €1,010,000 (€290,000 – Lot 1 and €720,000 – Lot 2) and with no further offers on the entire, Lot 3 was withdrawn and David Quinn proceeded to sell the property in two separate lots.

Lot 1, comprising of a bungalow and out-houses on c. 9.7 acres attracted one further bid and sold for €295,000. There was three bidders and the purchaser was Dublin based.

Lot 2, consisting of c. 40.9 acres had eight further bids before the hammer fell at €760,000. There was five active bidders on Lot 2 which was ultimately sold to a local business person.

The total sales price of €1,055,000 equates to an extraordinary result of approximately €21,000 per acre.

Lot 2 C. 40.9 Acres

Speaking after the sale, David Quinn commented that “typical land values in the East Wicklow area range between €10,000 and €15,000 per acre. To achieve a price in excess of €20,000 per acre was a truly remarkable result”.

The full property listing can be accessed here. Our next auction takes place next Friday September 30th where a c.29 acre residential holding at Barniskey, Avoca, Co. Wicklow comes to the market. Further details are available here.

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

on Tuesday, September 27, 2022 in Auction Reports

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