SOLD FEBRUARY 2023 – Excellent C. 37 Acre Roadside Holding With Derelict Cottage For Sale By Online Auction On Tuesday 28th February At 3pm (In 1 Or 3 Lots)
Today’s auction saw an excellent c. 37 acre roadside holding with derelict residence come to the market. There was strong interest in this property from its launch with plenty of underbidders on nearby properties sold by QUINN PROPERTY late in 2022, keen to secure land in the Avoca area.
Auctioneer David Quinn had guided the holding between €10,000 and €12,000 per acre. He anticipated “a lively auction due the the attractive price, and location” as well as the “significant road frontage on offer”. David added that “the derelict house may help in securing planning permission”.
The property was offered in the following Lots:
Lot 1: C. 11.5 Acres With derelict Cottage
Lot 2: C. 6.7 Acres
Lot 3: C. 18.9 Acres
Lot 4: Entire
On the day of the auction, Lot 1 opened at €100,000 and jumped to €160,000 at a rapid pace. With two further bids, it settled at €180,000 after the first round. Lot 2 opened at €60,0000 and ended up at €95,000 after initial bidding. Lot 3 commenced at €160,000 before quickly rising as far as €230,000.
With the combined bid for the three separate lots at €505,000, Lot 4 (the entire) needed a higher offer to remain in contention. This proved uncumbersome with a prompt opening bid of €525,000 followed by several more until Lot 4 reached €605,000. With a gap of €100,000 between the individual lots and the entire, further bids were sought for Lots 1-3. However, the gap could not be bridged so the auctioneer called a break to take client instructions.
Upon his return to the auction room, David Quinn declared the holding “on the market” and invited further offers. Brisk bidding ensued as the property passed the €650,000 and then the €700,000 mark. After the pace of bidding finally began to ease, the hammer fell at €715,000.
Speaking after the auction, David described the result as “another remarkable price for land in the Avoca area”. The sales price equated to approx. €19,300 per acre, well in excess of what had been guided. David added that “there were eight bidders in total, six for the lots and two for the entire”‘ He said that the purchaser is a “local businessperson”.
To view the full property listing, please click 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.
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