Hennessy Auctioneers recently completed the sale of two farms in Emo and Vicarstown on successive days – for a combined total of more than €1.6 million.
A holding of 32 acres and a derelict cottage at Morette, Emo, went for a total of €935,000, considerably more than the guide price of €650,000 before the auction.
It was offered for sale in three lots by online auction:
- Lot 1 – Circa 31 acres of prime tillage lands
- Lot 2 – Old derelict cottage on circa 1 acre
- Lot 3 – The Entire
There were 15 registered bidders for this property. After three rounds of active bidding on each lot it was decided to put the property on the market in the individual Lots 1 and Lot 2 at €670,000 and €205,000 respectively.
When Lot 1 (31 acres) went on the market at €670,000, further bids were received by three different bidders and the hammer eventually fell at €730,000
When Lot 2 (cottage) went on the market no further bids were received and the hammer fell at €205,000.
Combined total for the property was €935,000 (€29,219/acre), an impressive €285,000 above the guide price.
This premium price is a reflection on the quality of the land sold and the prime location of the property.
55 acres in Vicarstown
Hennessy Auctioneers also recently completed the sale of a further 55 acres in Vicarstown.
It was offered for sale in 3 lots by online auction: Lot 1 – Circa 15.5 acres tillage lands. Lot 2 – Circa 39.5 acres of pasture lands in need of drainage/reclamation. Lot 3 – The entire.
There were five registered bidders. After four rounds of bidding on the individual lots it was decided to withdraw the property at a combined €700,000 but it was sold within a few minutes to two local farmers at a higher undisclosed figure.
SEE ALSO – See more from Hennessy Auctioneers here
