£112,000 for 0.5 acre site at Ferrybank

February 2001

A half acre site at the end of a cul de sac in Ferrybank has been sold for a record £112,000 – the highest price ever paid for a piece of land of that size in the Wexford town area.

The site beside Ely Hospital, measuring 0.537 acres and with full planning permission for one dormer dwelling house, was offered for sale by the St. John of God Sisters, through Kehoe and Associates auctioneers.

Bidding opened at £50,000 and after a slight paus at £72,000 the site was eventually knocked down for £112,000 to a local professional man who intends to build a house on it and reside there himself.

Eight different parties bid at different stages during the auction but it was ‘a freak situation’ where eventually two bidders got stuck into one another and drove the price to a record level, according to Barry Kehoe.

‘The eventual selling price is not a realistic barometer of all sites in the Ferrybank area but the number of active bidders does illustrate the underlying strength of the market for good quality property,’ he said.

‘We had eight bidders but only buyer, so seven parties still have good money to spend on a good site,’ he pointed out.