Three sites sold, one for more than a million euro
A lot of 20.5 acres of zoned residential at Clonard land sold for more than €1 million at Kehoe and Associates auction rooms last Thursday.
The quoting price was €40,000 per acre and Colum Murphy explained how this parcel of land had huge development potential in the short to medium term.
Bidding opened at €500,000 and increased in increments of €50,000 until it reached €850,000. The lands were then placed on the market to be sold, and subsequently sold for €1,050,000.
Mr Kehoe said the auction rooms were packed for the sale of the land and for two other sites that were up for sale.
The first Lot offered for sale was 7.3 Acres at Kilrane Village. Bids opened at €50,000 and increased to €75,000, when the property was placed on the market by Mr Murphy. This lot was sold ‘under the hammer’ for €130,000 which equates to €17,800 per acre.
The second Lot offered for sale was a Derelict Cottage on 0.49 Acres in Kilrane Village. Bidding opened at €30,000 and increased to €45,000, when the property was placed on the market to be sold. It was eventually sold to the highest bidder at €62,000, 50 per cent over the guide price.
Mr Murphy said after the auction that it was a huge success with three very different types of property, in different areas of County Wexford all selling ‘under the hammer’.
‘ The prices were good with the residentially zoned land selling for €58,000 per acre and the lands in Kilrane Village selling for just under €18,000 per acre.. our clients are very happy with the end result,’ said Mr Murphy, the managing director at Kehoe and Associates.