A 3-bed bungalow, which has been unoccupied for some time and is in need of complete renovation, and a shed on 57-acres sold for €940,000 at auction on Wednesday, September 9th.
The holding at Greenmount, Clonhasten, Enniscorthy, Co. Wexford went under the hammer at the Courtyard, Ferns under strict Covid-19 protocols.
Land
“The land is in one block and is divided into a number of suitable divisions with excellent access from the public road, as well as a central laneway leading to a hardcore yard in the middle of the property.”
“The lands are generally of excellent quality and, while currently in grass, would be suitable to most agricultural enterprises.”
“Currently, the majority of the lands are zoned for low-density residential development with a smaller amount zoned for community education and agricultural.”
Residence and outbuildings
The property has the benefit of a three-bedroom bungalow which has been unoccupied for some time and is in need of complete renovation, according to Quinn Property.
There is a two-span shed to the rear of the residence and the property has services to include mains water, septic tank, and electricity on the land.
Auction
Ahead of the auction, the holding had been guided in the region of €800,000 or €14,035/acre.
The property was to be offered in the following lots:
- Lot 1: C. 17.7-acres with derelict residence;
- Lot 2: C. 39.2-acres;
- Lot 3: The entire.
Lot 1: Bidding on lot 1 opened at €200,000 and with four bidders, it peaked at €400,000.
Lot 2: This lot commenced at €350,000 and with two parties active, it reached €400,000.
Lot 3: The entire received strong interest from two bidders and it soon became clear that the offer on the entire would “eclipse” the joint offers of lots 1 and 2. Accordingly, lot 3 was placed on the market at €910,000.
With rapid bidding, the property went under the hammer for €940,000. The purchaser was an Enniscorthy-based solicitor, acting in trust, according to the property firm.
€16,500/acre
“The auction returned a great result for our client, as the farm made €140,000 in excess of the guide price. The successful bid equated to a price of c. €16,500 per acre.”
Speaking after proceedings, auctioneer David Quinn believes the result “displays a maintained confidence in the market”.
“It was great to see momentum continue with a second successful auction of lands in the Enniscorthy area in the space of a week.”
David urged those considering land sales to contact him soon due to a surge in demand in recent months.
Image source: Quinn Property
