A valuable circa 33-acre residential holding in Killisk, The Ballagh, Enniscorthy, Co Wexford went under the hammer in an online auction on Wednesday, April 28th, 2021.
According to Quinn Property, there was “strong” interest with twelve parties registering to bid in advance of the auction.
The property was offered in four lots:
- 1 – Circa 20-acres;
- 2 – Residence & yard on c. 3.57-acres;
- 3 – Circa 9.8-acres;
- 4 – The entire.
Auction
The online auction began with lot 1 where bidding opened at €180,000 and reached €240,000 after six bids.
According to the property firm, bidding on Lot 2 began at €180,00. With more than twenty “quickfire” bids, the property reached €325,000.
Besides, lot 3 attracted an opening offer of €80,000 and reached €95,000 with two bidders’ help. With initial bidding on each separate lot complete, a sum of €660,000 was on offer.
Three separate lots
As outlined by David Quinn, auctioneer, an offer above this level would be required to progress lot 4 (The entire).
Ultimately, no bid was made on lot 4 at the required level, which established that the holding would be sold in three separate lots.
After consulting with the vendor, instructions were given to place Lot 2 ‘on the market’ at €325,000. The hammer fell after no additional bids were made.
Lot 1 was then brought back to the market at €240,00 with Quinn indicating that further bids would be required to meet the reserve.
According to the auctioneer, attracting further bids “was not a problem” as nine more offers brought the property to €290,000. Following this, lot 1 was declared ‘on the market’ and it changed hands for €305,000 (€15,250/acre).
Lot 3 was withdrawn at €95,000 (€9,694 per acre) after a call for further bids went unanswered. However, Quinn added, that the circa 9.8-acres sold immediately after the auction for a higher sum.
Outcome
Speaking after the auction, auctioneer David Quinn, said: “It was fantastic to get all three lots sold on the day of the auction.”
“Auctions continue to provide a fast and efficient way to sell property, I am pleased to have secured another great result for our clients.”
