53-acre Limerick holding offers mixed opportunities

53-acre Limerick holding offers mixed opportunities

From an agricultural point of view, the county of Limerick has a lot of variety for its relatively small size.

Its land quality includes some of the best in the country as well as more moderate, standard parcels and its towns vary from quiet rural or tourist-oriented villages to the very industrial-oriented larger settlements like Limerick city itself.

Throughout the county, there is this crossing of purposes between the rural and the industrial, with many parcels of land seeming to have one foot in either camp: sometimes a fine large grassland farm may be suitable to devote itself — in part at least — to some other form of non-agricultural enterprise.

Such is the nature of a 53-acre non-residential holding that has recently come on the market in the townland of Newtown near Palliskenry. Listed with Limerick agents GVM Auctioneers, the grassland farm is in one block and is located 4km to the west of Pallaskenry.

Askeaton is also within 9km of the holding and the shoreline of the Shannon Estuary is just 3km to the north.

Limerick City, meanwhile, is approximately 25km to the east of the property.

Officially, this is a farm stating 65 acres on its folio but 12 of those acres are located in Milltown Lake.

“Overall, the quality of the land is mixed,” says selling agent Tom Crosse. “There would be some good land and some heavy land as well, and then there’s some shoreline fronting onto the lake.”

This mixture of quality is reflected in the overall price of €375,000, or €7,000 per acre — in a part of the world where prices for good land are usually well north of €10,000.

That said, this holding would appear to represent an opportunity to purchase a good-sized piece of land in an area where such opportunities are thin enough on the ground and one would estimate that the demand for such a property might well push the figure to its maximum limits.

The farm doesn’t have road frontage and is accessed via a passageway coming from the public road.

It’s an uncomplicated right-of-way access but it’s a factor that will temper the value of the holding. Initial interest in the farm has been quite good, according to the selling agents, with a number of enquiries coming forth despite the fact that it has only been put on the market very recently.

“The interest has been reasonably good to date,” says Tom, “but it’s a bit early to tell at this point —it’s very early days, in fact.”

The size of the holding would suggest that a larger operator looking to expand would be more likely to buy but because of the farm’s accessible price, it could also tempt someone looking for a more ‘hobby’ style of farming who would seize the chance to gain more acres than they might have expected in this intensive farming area. “It probably wouldn’t be suitable for ploughing or for arable farming.”

There are no entitlements going with the property, nor are there any outbuildings for this uncomplicated sale of bare land.

“We have it sensibly price to attract interest,” says Tom. It’s hard to argue with that assessment of a property that is only 20 minutes’ drive from Limerick City.

The aesthetics of the holding may yet have a final say on its value.

The frontage onto Milltown Lake is extensive and might be just the thing to pique the interest of someone with a less serious emphasis on farming and more of an interest in a different commercial enterprise.

In any case, it represents a good parcel of land in a zone of high activity and high demand.

It will, therefore, be one to keep an eye on in the coming weeks as an indication of the health of the overall market locally and of the demand from the various sectors of the farming community and ancillary sectors.

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