€10,000 per acre on edge of Limerick city

A NICE Christmas present for Tom Crosse of GVM Limerick came a week early, when he sold a 35-acre holding at Crecora, within a week. The property, on a “posh” edge of Limerick city, was purchased by a businessman for €350,000 — €10,000 per acre.

That represents the higher level of land sales, says Crosse, with more average sales coming in at €7,000 to €8,000 per acre — but the location was probably a factor in pushing up the price. Five miles from Limerick city, the Ashford, Crecora property was a land only sale, all in one block, with 150 feet of road frontage.

He says land sales are picking up in Co Limerick, with greater demand expected in the spring selling season. GVM also expect demand for land lettings to remain strong, anticipating levels in the region of €150 per acre.