Approximately €21,000/ac was achieved in the sale of a circa 50.6ac residential holding with road frontage in Co. Wicklow, by Quinn Property in an online auction that took place on September 23.

The total sales price of €1,055,000 achieved for the property near Avoca, equates to the result of approximately €21,000/ac.

Auctioneer David Quinn had guided the property at Knockanree between €12,000 – €14,000/ac prior to the auction.

Noting that the executor sale offered very good quality land and a ‘lovely’ compact holding along with a residential property in need of an overhaul, he said there was strong interest from local farmers and business people.

He also had registered bidders from the neighbouring counties of Dublin and Wexford. There was more than ten registered bidders in total.

The Wicklow property

The property, which is located 3km from the picturesque village of Avoca, was offered in the following lots: Lot 1, bungalow, out-houses on 9.7ac; lot 2, 40.9ac; and lot 3, the entire.

Lot 1 attracted plenty of early bidding and reached €270,000 after the first round of offers. Lot 2 began in a similar vein and with more than 10 offers and €420,000 on the table after initial bidding, making a combined bid of €690,000 for lots 1 and 2.

Knockanree

The entire was then offered to the room and it promptly received an offer of €700,000. With the entire then commanding a higher offer than the individual lots, the auctioneer ran through lots 1 and 2 again, seeking further offers.

Brisk bidding on lot 2 brought it as far as €500,000, a combined bid of €770,000 for lots 1 and 2. However, an improved offer of €780,000 was then made on the entire.

Another round of bidding on lots 1 and 2 resulted in a combined offer of €1,010,000 (€290,000 for lot 1 and €720,000 for lot 2) and with no further offers on the entire; lot 3 was withdrawn and David Quinn proceeded to sell the property in two separate lots.

Lot 1, comprising a bungalow and out-houses on 9.7 ac attracted one further bid and sold for €295,000. There were three bidders and the purchaser was Dublin-based.

Lot 2, consisting of 40.9 ac had eight further bids before the hammer fell at €760,000. There were five active bidders on lot 2 which was ultimately sold to a local business person.

“The total sales price of €1,055,000 equates to an extraordinary result of approximately €21,000/ac,” said David.

Speaking after the sale, he commented that typical land values in the east Wicklow area range between €10,000 and €15,000/ac.

“To achieve a price in excess of €20,000/ac was a truly remarkable result,” he said.