Post-auction report: Wexford holding
A circa 49-acre roadside holding in Wexford exceeded its price guide by €195,000 at auction earlier this week.
David Quinn of Quinn Property guided the holding in Slad, Tagoat, Rosslare, at €495,000 before the auction on Tuesday, September 21st, 2021.
That’s Farming featured the property, which saw almost ten registered bidders, in the days leading up to the auction.
Quinn explained that the lands are in six divisions, currently in a mixture of grassland and tillage and are of “excellent quality and suited to most agricultural uses”.
“There is a natural watercourse running along the southwestern boundary. The land may have development potential for a residential dwelling subject to the relevant planning permissions.”
According to Quinn, the roadside holding is located just off the N25 at Tagoat along the main Rosslare/Wexford Road.
Furthermore, it has extensive frontage onto the road leading to Our Lady’s Island (L3060). It is close to Rosslare Europort, Rosslare Strand, and some of Wexford’s “finest beaches”.
Post-auction report: Wexford holding
The property firm offered the holding for sale in the following lots in conjunction with LSL Auctions:
- 29-acres;
- Circa .89-acres;
- The entire: C. 49-acres.
On the day of the auction, bidding on lot 1 began at €130,000 and, with the help of three bidders, climbed to €380,000.
Lot 2 peaked at €180,000 after activity from three bidders. However, bidders on the entire “had no issue” in surpassing the total of lots 1 and 2 (€510,000).
In fact, bidding on lot 3 “quickly reached” €570,000 and then €670,000 with two parties “battling it out”.
After two further bids, Quinn’s hammer fell at €690,000, equating to over €14,000 per acre.
David Quinn commented on the “extraordinary depth of demand for agricultural land in South Wexford and indeed across the region”.
“There are several genuinely disappointed underbidders that will be eagerly awaiting the launch of similar properties,” he commented.
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