Tuesday, October 4, 2022
15 C
Galway
HomeFarming News132ac farm smashes €1.4m guide price with ‘thick and fast’ bids
Catherina Cunnane
Catherina Cunnanehttps://www.thatsfarming.com/
Catherina Cunnane hails from a sixth-generation drystock and specialised pedigree suckler enterprise in Co. Mayo. She currently holds the positions of editor and general manager at That's Farming, having joined the firm during its start-up phase in 2015.
Reading Time: 2 minutes

132ac farm smashes €1.4m guide price with ‘thick and fast’ bids

Post-auction report Wexford Farm

A 132-acre holding with a large period Georgian-style residence and buildings in Co Wexford exceeded its €1.4m guide price at auction this afternoon (Monday).

David Quinn of Quinn Property described the property as a “jewel in the crown of Co Wexford”.

He said this is a “magnificent property in its own right” and views the benefit of a surrounding c. 132 acres presents an “added appeal”.

The auctioneer reported “no shortage” of local, national, and international interest in securing the property at auction.

Quinn had guided the property at €1.4 million in advance of the auction with approximately ten parties registering to bid.

He offered the property for sale in the following lots:

  • 1: C. 74.74-acres with residence and farmyard;
  • 2: C. 57.5-acres;
  • 3: The entire.
Post-auction report Wexford farm

Bidding on Lot 1 began at €600,000 and reached €700,000 after the first round of bidding.

Lot 2 opened at €450,000 and was bid up to €610,000 initially. Therefore, the entire had to exceed the combined offer of €1.31 million to “remain a viable option” for sale.

A bid of €1.33 million was “quickly “made, and several bids were placed soon after to bring the entire up to €1.59 million.

Before calling a break for client instructions, Quinn gave bidders on lots 1 and 2 the opportunity to catch up with the €1.59 million on the table for the entire.

However, bidders made no further offers on either lot.

Upon returning to the auction room, Quinn confirmed the vendor had instructed him to place lot 3 ‘on the market’.

In a statement following the auction, Quinn said:

“With the property there to be sold, bidders were keen to secure this sizeable holding, and bids came in thick and fast.”

“There were dramatic scenes as bids came in just in time to keep the auction alive on several occasions.”

“In all, there were twenty-five further bids after Thornville House was put on the market, and the hammer ultimately fell at €1.84 million,” he concluded.

Read the full listing on That’s Farming.

See more land, houses and farms for sale.

To include your listing, email – [email protected]

- Advertisment -

Most Popular