SOLD JULY 2021 – C. 25.5 Acre Roadside Holding With Derelict Cottages For Sale By Online Auction On Tuesday 10th August At 3pm (In One Or 2 Lots)
Today’s auction saw the resumption of our summer auction schedule, three weeks after a fantastic result in Oldmill, Rosslare.
The property on offer benefits from a truly exceptional location, within close proximity to Gorey, the 3km coast and 5km from Courtown. In terms of access, there is the benefit of three access points and the land has good frontage onto the public road. There are two derelict residences on the lands, in need of complete renovation.
The property was offered in the following Lots:
Lot 1: C. 23.8 acres with derelict cottage and cattle pen
Lot 2: C. 1.8 acres with derelict farmhouse
Lot 3: The Entire
Prior to the auction, David Quinn guided the property in the region of €325,000. The auctioneer also commented that there was strong interest in the run up to the auction with almost thirty parties registering to bid.
On the day of the auction, Lot 1 opened at €170,000. After the first round of bidding, Lot 1 peaked at €290,000.
Bidding on Lot 2 began at €30,000 and quickly rose to €100,000.
Lot 3 (The Entire) would have to surpass the combined bids of Lots 1 and 2 (€390,000) to have a chance in progressing. With the auctioneer very close to withdrawing the entire, a bid of €400,000 was placed. This ensured Lot 3 made it to the second round of bidding.
After a short break to take instructions from the vendor, David Quinn outlined that the property had reached its reserve and was now on the market.
Lot 1 resumed with plenty of activity. It reached €370,000 after eight further bids. Lot 2 also moved forward in the second round of bidding with four additional bids taking it up to €120,000.
Lot 3 was required to exceed €490,000, the current total of Lots 1 and 2 in order to secure the property in one lot. However, no further bids were made and the entire was withdrawn. This meant that Lots 1 and 2 were now placed on the market with one more round of bidding to go.
Lot 1 received five more bids and the hammer fell at €395,000. Lot 2 resumed at €120,000 and with two further bids it was sold for €130,000. The sum of €525,000 equates to an outstanding price per acre of €20,588, well in excess of the guide price.
After the auction, David Quinn expressed his delight with “another exceptional result which highlights the depth of demand for land in the north Wexford area, in my opinion demand for these properties is continuing to increase”.
To view the comprehensive property listing, please click here.
Our next auction takes place on the 17th of August where c. 40 acres with farmyard near Screen, Co. Wexford will be offered to the market. For further details including drone footage, please click here.
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