Rathkyle, Adamstown, Co. Wexford – Auction Report
SOLD MARCH 2023 – Prime C. 9.8 Acres Of Agricultural Land With Derelict Stone Built Dwelling For Sale By Online Auction On Tuesday 21st Of March At 4pm (In One Or Two Lots)
Today’s second auction saw almost ten acres of land with a derelict stone built house come to the market. The lands are divided by a hard core public laneway with c. 3 acres on the western side of the lane and c. 7 acres with a derelict house on the eastern side. The lands are of good quality, currently in grass and have a natural water supply. Auctioneer David Quinn had guided the property at €10,000 to €12,000 per acre in advance of the auction. David said that there were several expressions of interest in the holding and had close to ten registered bidders prior to the auction.
The property was offered in the following Lots:
Lot 1: C. 6.5 Acres With Derelict Dwelling; Lot 2: C. 3.3 Acres & Lot 3: The entire.
On the day of the auction, Lot 3 was the first to be offered to the room and it got up and running with a bid of €50,000. With nine further bids, the property had reached €100,000. The auctioneer then sought bids on the individual lots, but with no bids forthcoming Lots 1 and 2 were withdrawn and a break was called to take client instructions.
Upon returning to the room, Mr Quinn said that he was still short of the reserve and sought further bids. A bid of €105,000 was promptly made but with no additional bids the property was withdrawn and negotiations commenced with the highest bidder. These negotiations proved fruitful as the holding was soon sold to a local farmer for a substantially higher sum than the highest bid at auction.
Speaking afterwards, David Quinn commented that “while it is preferable to sell under the hammer, we are very pleased to have secured a strong price directly after the auction”. “I would like to pass on my best wishes to the purchaser”.
To view the full property listing, please click here.
Our next auction takes place on March 28th where an excellent c. 10 acre roadside holding in Caim, Enniscorthy, Co. Wexford comes to the market. For further details please click here.
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