Wexford land sells for almost €23k/acre in online auction
The 18-acre Wexford holding that sold recently at auction.
Last featured here on March 30, an 18-acre holding in North Wexford was sold online last week, largely exceeding pre-auction expectations.
The property was offered in two separate lots, close by to one another in the townland of Cullenogue — both in grass and both with good road frontage.
Auctioneer David Quinn of Gorey-based agents Quinn Property described the area as a very sought-after one, and noted there had been considerable interest in the land since it was first advertised.
With the lots offered separately, the online bidding began on Wednesday, April 22, at 12 noon.
Lot 1 (10.4 acres) opened at €100,000 and moved quickly in increments of €10,000 up to €150,000 (€14,400/acre). Further bidding continued in increments of €5,000 up to €205,000 (€19,700/acre). It was then declared on the market, followed by another round of bidding to a final figure of €213,000 (€20,500/acre).
Lot 2 (7.8 acres) opened at €80,000 and reached €105,000 in the first round of bidding, with four active bidders. Upon reaching €130,000, it was declared on the market. A new bidder then entered the race at €150,000 (€19,200/acre), and two bidders remained at the very end, when the hammer fell on a figure of €196,000 (€25,100/acre).
Speaking immediately after the auction, Mr Quinn hailed another “superb result at auction where the lands averaged close to €23,000 per acre”. He added his clients were “very impressed with the outcome” and wished both purchasers well.
