Arklow Main Street site auctioned for €106,000
A “shovel ready” site with full planning permission on Arklow’s Lower Main Street sold for €106,000 at a lively online auction last week.
Guided at €80,000 by Quinn Property, the town centre site at No. 70 Lower Main Street was particularly appealing due to its granted planning permission for a three storey development comprising of three two-bedroom apartments.
Bidding opened at €50,000 on the day of the auction, with further bids of €60,000 and €65,000 submitted in quick succession. The action burst into life in the second round when a new bidder entered the fray and, in the blink of an eye, the bidding had reached €90,000.
After a flurry of late bidding, the hammer fell at €106,000, with a local businessperson eventually clinching the sale.
Speaking after the auction, Jack Quinn expressed his delight at the outcome of the auction, noting that his client was also very pleased with the result.
“The property had drawn considerable interest from local businesspeople and investors alike, and we had received numerous enquiries since the property’s launch,” Jack said. “There were in excess of five registered bidders on the day and, given the site’s town centre location and granted planning permission, it was bound to draw a lot of interest.
“We hope to have further investment property opportunities coming to the market in Arklow in the near future.”