Jordan Auctioneers, Newbridge successfully sold two parcels of land at Public Auction on Wednesday last. The first lot offered for sale was 10 acres of agricultural land in Barrettstown, Newbridge. These were good quality lands with substantial frontage to the River Liffey. This lot opened with an initial bid of €100,000 with several bidders engaged. The property was placed on the market at €120,000 and bidding continued up to €192,500 when the property was sold to a Solicitor acting on behalf of a client. The price achieved was almost €20,000 per acre.
The second lot offered for sale was 13.2 acres at Higgs Lane, Portlaoise which was located on the North Eastern outskirts of the town. The land is all in one field and adjoins an existing residential development known as Heatfields. The land adjoins zoned land and has some long term potential. The property opened with an initial bid of €100,000 with bidding continuing up to €170,000 at which stage the property was placed on the market. Two bidders then continued to fight it out before the hammer fell at €255,000 which equates to almost €20,000 per acre.
Speaking after the Auction Clive Kavanagh of the selling agents commented that ‘both sales went very well and there was strong interest in both parcels, perhaps incentivised by being one of the last opportunities to take advantage of 7 year Capital Gains Tax exemption before year end’.
No comments:
Post a Comment