Farms up for double-auction in Limerick City
The single-storey house on the land at Tubrid.
After a bumper number of public auctions over the last couple of weeks, the auction season continues next week with the sale of two farms on the same day at GVM’s offices on Wentworth Street in Limerick City Centre.
The first of the two public sales takes place at midday on Thursday, May 5. This consists of a 21-acre holding in the townland of Tubrid, near the village of Shanagolden. According to the selling agents John O’Connell and Tom Crosse of GVM, it consists of “top-class land”.
“We’re guiding around €350,000 for this property,” said Mr Crosse. At €17,000 per acre, this is in the upper range of land prices in Munster but given the location and quality of the farm, it’s a justifiable expectation.
“There is also a derelict farmhouse on it,” Mr Crosse added, “Which obviously adds to its value, but it’s a great piece of ground apart from that.”
The single-storey residence contains three bedrooms, a bathroom, kitchen, sitting room and entrance hallway.
While the land has extensive road frontage onto two public roads, it will have a wide range of suitors from expanding dairy or beef farmers to smallholders.
“There’s been a lot of interest in it so far,” confirmed Mr Crosse. “It’s about 3km from Shanagolden and 5km from Askeaton, near a place called Creeve’s Cross... about a half-hour’s drive from Limerick city.”
At 3pm on Thursday, it will be the turn of a 72.5-acre farm to go under the hammer. This is in the townland of Tiernahilla, near Newcastle West.
It is on the main road between Newcastle West and Bruree; the R520, which is locally known as “the Bruff Line”.
“It’s about 9km to the east of Newcastle West,” said Mr Crosse. “The land quality is mixed... there’s some very good land and some of more mixed quality. It has good road frontage also.”
The agent says that this is the kind of property which will benefit enormously from an owner who is willing to carry out improvement works on the land and bring it back up to its full potential.
“The land has been rented for a number of years and it reflects that,” said Mr Crosse. "It’s a fine piece of land – it just needs to be tidied up.”
There has been a good level of interest in this farm so far, the agent says, citing its location as one that has been attracting interest from within Limerick county but also from interested farmers in Kerry.
The fact that it’s of a substantial size makes it a bit of a rarity as well and many will see it as an opportunity to be seized.
“It’s a good block of acreage there,” said Mr Crosse.
“A bit of work will enhance the value of it... Someone could build a nice house on it if they wanted, and it’s a nice parcel of land in one go – it isn’t too often that such a size will come up in this location either.”
The property comes with entitlements which are worth approximately €5,700 a year. The price guide is €600,000 (€8,300/acre), making it an ideal opportunity for the right buyer.
Apart from the live events at GVM’s auctions rooms, it will also be possible to attend both auctions online by pre-registering at lslauctions.com.
