One
of the most publicised and anticipated Auction to take place, west of the
Shannon in Oranmore, Co. Galway was conducted last Thursday by Jordan
Auctioneers, Newbridge in the Radisson Blu Hotel.
Before
an attendance of about 30 people Renville House on 135 acres, home of the Lydon
family since 1960 was placed under the hammer. Bidding was initially cautious
& slow opening at €1,500,000 with 4 active purchasers up to €2,700,000.
After a brief consultation with the vendors the property was declared ‘on the
market’ with only 2 parties fighting it out before the entire was sold for
€3,200,000 to a Solicitor acting in trust on behalf of a client.
There
is little doubt that this was a splendid property, entirely unique considering
its location on the edge of Galway Bay, close to the city, Oranmore and the
Motorway. Approached via a ½ mile long winding avenue on top quality land with
a charming residence (although in need of some modernisation), farmyard and
Herd’s cottage.
Paddy
Jordan speaking after the Auction said ‘the sale had generated huge interest
since the outset of the marketing campaign and it had been one of the finest
properties he had sold, particularly in terms of the reaction of viewers when
they saw the quality of the land, the setting and its unique charm, there were
almost no negative comments, which is very unusual’
Jordans
had been quoting €2,000,000 prior to the Auction and discussing this with Paddy
Jordan he explained ‘there was a certain X factor with the property which was
hard to put a number on and really it depended on people’s individual desire to
purchase, it now appears this factor was possibly €1,200,000 over the guide’
Considering
the Farmers Journal Land Price Survey 2015 placed the average price of
agricultural land in the County at €7,443 this result of almost €24,000 per
acre will go a long way to be matched.
Paddy
Jordan at the commencement of the Auction commented that there are ‘three key
factors when buying a property, location, location, location’ and this result
certainly bears testament to that.
The
Lydon family were delighted with the result and wish the purchaser every
success in a property they have so many fond memories of.
No comments:
Post a Comment