Property Auction Report: Over €1m for 124ac farm
A circa 124-acre residential holding with a traditional two-storey stone-built farmhouse smashed its guide price by €100,000 when it went under the hammer on Tuesday, April 12th, 2022.
Quinn Property handled the sale of the “superb residential holding with huge potential”, which garnered interest from mainland Europe, the UK, and the US.
The firm’s David Quinn guided the property at Knocknaboley, Tinahely, Co Wicklow, at €900,000, ahead of the hybrid (in-person and online via LSL Auctions) auction.
He cited the property’s “substantial size” as the key driver of a “huge” volume of interest.
He said the result “exceeded all expectations” as the property drew interest from “far and wide”, which helped generate “an extremely strong price”.
As That’s Farming is featured as part of our weekly property series, the property has a traditional farmhouse, an adjoining coach house, an array of stone buildings and a farm year.
Quinn offered the property for sale in the following lots:
- 1: C. Residence & yard on circa 12-acres;
- 2: C. 30.5-acres;
- 3: C. 37-acres;
- 4: C. 36.7-acres, including forestry;
- 5: C. 8.4-acres;
- 6: The entire.
Post-auction property report:
According to Quinn, a combination of €880,000 was offered after the first round of bidding.
However, with the entire (lot 6) making €970,000 after the first round, it seemed likely that Quinn would sell the property in its entirety.
He sought further bids on separate lots in an attempt to “fill the gap”. However, he secured €940,000 and, therefore, he withdrew lots 1 to 5.
After consulting with the vendor, Quinn announced that they would put the property ‘on the market’ at €1 million.
Shortly afterwards, the property hit the €1 million mark, and bids “kept coming in”.
Ultimately, Quinn’s hammer fell at €1,050,000, more than €100,000 over the guide price.
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