Post-auction report Wexford
A circa 40-acre roadside holding with a farmyard in Co Wexford exceeded its price guide by €130,000 when it sold at auction this week.
Quinn Property guided the holding in Ballintaggart, Screen at €500,000 ahead of the hybrid auction held in conjunction with LSL Auctions, at its Carnew office on Tuesday, August 17th, 2021.
Auctioneer, David Quinn, reported “plenty” of interest in the property, with approximately twenty parties registering to bid.
This was the first auction the firm held in some time where both in-person and online bidding were available.
Quinn Property offered the listing for sale in the following order:
- 1: C. 29.25-acres with farmyard;
- 2: C. 10.5-acres;
- 3: The entire.
Post-auction report Wexford
Lot 1 opened at €250,000 and with fifteen further bids reached €400,000.
Furthermore, bidding on lot 2 commenced at €100,000 and “gradually rose” as far as €140,000.
The entire “quickly” surpassed the combined €540,000 on offer for lots 1 and 2. Bidding then continued at “pace” as far as €610,000 (€15,250 per acre).
Quinn gave interested parties an opportunity to improve their bids on the separate lots.
However, no further bids were made on Lot 1 and 3. Following this, Quinn announced a short break to consult with the vendors.
Upon returning, the auctioneer announced that the entire was now ‘on the marker’ and any further bids would secure the property.
Two further bids were made, and the hammer fell at €630,000 (€15,750 per acre).
Speaking following the auction, Quinn said:
“This result is a further indication of the current strength of the agricultural land market across County Wexford. I wish the purchasers well with this top-quality farm.”
Upcoming auction
Quinn Property’s next auction takes place on August 25th – more details about this farm holding for sale.
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