Scarnagh, Inch, Gorey, Co. Wexford – Auction Report
SOLD SEPETEMBER 2024 – Valuable C. 45 Acre Roadside Holding With Derelict Dwelling & Sheds For Sale By Online Auction On Wednesday, 25th September 2024 At 12 Noon (In One Or More Lots)
Today’s auction was one of the most hotly anticipated in some time according to experienced auctioneer David Quinn. David added that there were “in excess of thirty registered bidders for this property which is an almost unprecedented level of interest”.
All the lands have extensive road frontage with Lots 1 and 2 having good quality grassland, while the remaining Lots are in need of some improvement works. Given the location, there may be site potential on some of the land, subject to the relevant planning permission being obtained. Lot 1 has the benefit of a derelict farmhouse and a outbuildings.
The property was offered in the following lots:
Lot 1: C. 8.6 Acres (to include derelict dwelling and outbuildings)
Lot 2: C. 13.6 Acres
Lot 2A: C. 22.2 Acres (Combination of Lot 1 and Lot 2)
Lot 3: C. 7 Acres
Lot 4: C. 3.6 Acres
Lot 5: C. 6 Acres
Lot 6: C. 5.7 Acres
Lot 7: The Entire
On the day of the auction, there was brisk bidding from the off whereby Lot 1 opened at €100,000 and quickly progressed as far as €230,000 after initial bidding. All Lots continued in similar vein and totalled €905,000 after the opening round of bids. Lot 7 (the entire) was then offered as an option, quickly attracting two bids of €925,000 and €945,000. Following a brief pause to take client instructions, Mr Quinn resumed the auction and declared all Lots as “on the market and here to be sold”. This prompted further bidding on all the individual Lots bringing the combined total up to €1.135m. With no further offers on the entire, it was withdrawn and final bids were sought for each separate Lot.
Lot 1 sold at €320,000 with “fierce competition”. Lot 2 followed soon after with the hammer falling at €270,000. Lot 3 fetched €160,000 while Lot 4 brought €130,000. Lot 5 sold for €160,000 and Lot 6 also sold for €160,000.
Overall, a figure of €1.2m was achieved, a truly phenomenal result which equates to €26,666 per acre. Speaking immediately after the auction, Mr Quinn remarked that this was “one of the most in demand properties I have ever sold”. He added that “there was strong interest from a range of buyer profiles to include farmers, businesspeople as well as those seeking to purchase a small holding in a sough-after residential area with the potential for building themselves”.
To view the full property listing, please click here.
With the property market continuing to perform well, please contact us if you are considering selling your property, either by way of auction or private treaty.
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