Auctioneers expect 'north of €400,000' for 36-acre Newport holding
Located in the townland of Derryleigh, just 1km outside Newport, the grass holding is described by the selling agents as a “truly outstanding property”.
Coming up for public auction next week with GVM (both online and in their offices in central Limerick City), is a 36-acre parcel of land near Newport, Co. Tipperary, which is going to fit the bill for a number of potential bidders in the area.
Located in the townland of Derryleigh, just 1km outside Newport, the grass holding is described by the selling agents as a “truly outstanding property”.
“It’s a really fine piece of ground on the outskirts of Newport,” says selling agent Tom Crosse. “It’s top-class land, actually, and it’s across the road from Newport GAA Club.” The ground is split across three fields and said to be well fenced.
The location in relation to Newport is also a strong asset and when one considers that it’s only a 20-minute drive to Limerick City from here, one can imagine that this farm will be a strong draw for those who dream less of a farming life and more of a rural residential life.
In terms of its value, Mr Crosse says that he expects it to “certainly make north of €400,000.” It seems like a very reasonable expectation, considering that a number of similar properties have easily surpassed the €11,000/acre mark in recent years, but public auctions are exciting events because they are unpredictable.
Even in today’s confident land sales market, there is a certain sentiment of caution surrounding the unclear effects that the conflict in Ukraine will have on overall agricultural fortunes in Ireland. There aren’t any entitlements going with the farm, which has extensive frontage onto the public road.
According to Mr Crosse, there has been very good interest since it was first advertised. The proximity of Newport doesn’t imply any possibility of development but it would certainly have potential site value, he explained.
“Most of the interest has been from people from a farming background,” said Mr Crosse, “But we’d expect interest from other people too, such as those of a business background... It’s in a really strong location, it’s really good land and there should be a lot of interest.”
The auction is set to take place at GVM Auctioneer's Limerick City Auction Rooms on Wednesday, May 11. Those wishing to attend must register with GVM Auctioneers at least three days before.
