Second Limerick farm sells for €10,000 an acre
The auction was conducted by Richard Ryan, of the Kilmallock offices of GVM Auctioneers.
Thirty people assembled at the Woodlands House Hotel, on Wednesday, May 28, for the 35-acre roadside holding, in the townland of Pallas, Kilmeedy.
The auctioneers described the land as “excellent-quality, Golden Vale grazing lands, laid out in easily managed divisions”, all with the added benefits of a derelict residence and ancillary out-offices.
Bidding opened at €250,000 and brisk exchanges, in increments of €10,000, brought the price up €330,000. A recess was called, and when the auctioneer opened up the floor once more, he was met with no response. He then informed the audience that, on the instructions of the vendor, the property was now on the market and selling. This was the spark for a further round of bids, with a new bidder entering the fray. Four bids of €5,000 later, the property had reached €350,000. The gavel came down on that figure.
The successful purchaser was a neighbouring farmer, while the other two bidders were from the Kilmeedy area.
Commenting afterwards, Mr Ryan said that he was “very happy with the price achieved” and that it was in line with expectations.
