98-acre farm near Adare to draw enthusiastic bidders at auction

Prices have been exceptionally strong in area in recent years

Farm is in an area of great limestone pastureland, which is an important driver for a burgeoning dairying sector, as well as a very active beef sector.

A large parcel of land in a very sought-after part of the Golden Vale is coming up for public auction at the end of the month.

The 98-acre farm is located in the townland of Clonoul, near the town of Croagh. This part of central Co Limerick is one where prices have been exceptionally strong in recent years, with a number of elements coming into play.

These include, first and foremost, the quality of the land. This is an area of great limestone pastureland, which is an important driver for a burgeoning dairying sector, as well as a very active beef sector.

Secondly, there is the equestrian factor. With a number of important and well-known names in the locality, there is a strong element of stud farms looking for good land. In this case, the size of the holding may be too large for it to be an important factor. However, quality and location often bring in other elements too.

The specific location close to Adare makes it a very hot spot for property of all kinds. With more and more individual investors getting involved in the agricultural land market and the particular trend of individuals buying tracts of land to go with the building of a home, the location of this farm will not escape the radar of such individuals.

“The auction is coming up at the end of the month,” said selling agent Tom Crosse of GVM’s Limerick office. It is in this building in central Limerick that the auction will take place on Thursday, September 29 at 3pm.

“In the main, it’s very good land,” Mr Crosse said. “There’s probably a little part of it down the back that’s somewhat heavy and in need of drainage, but otherwise excellent.”

The two-storey house has not been occupied for a number of years and is in need of work.

The farm is on the main road that links the aforementioned Croagh to Curraghchase and is close to the N21 national primary route.

“There is a two-storey traditional farmhouse on the land which is in need of work,” Mr Crosse said. “It hasn’t been occupied for a number of years so its condition reflects that fact.”

The fact it has a dwelling on it will stand it in good stead, of course, for any consideration regarding planning permission for someone to develop the current property or build a house somewhere else on the land.

“There are farm buildings too, which are in a reasonable condition,” Mr Crosse added. “They’re not spectacular because the farm has been let for a number of years.

“What you have here, however, is very good raw material. It’s really a proper farm; the location is strong, it’s within a kilometre and a half of Croagh, which would be perceived as a very strong agricultural hinterland. On top of that, you’re close to Adare [6km[ and you’re convenient to Limerick City [about 20km].”

The land could do with some “TLC” to bring it up to its best possible standard but it has been well looked after over the years.

The property has excellent road frontage and it is well watered and fenced throughout.

The property has excellent road frontage and it is well watered and fenced throughout. In addition to some of the outbuildings, there are other ancillary out-offices that are accessed via a shared roadway. The main farmyard in the centre of the farm includes a three-column hay barn, a cubicle house, silage slab, slurry pit and cattle crush.

The auction will be held live but bidders can also throw their hat in online and for this, one must pre-register one’s interest at lslauctions.com.

“There’s been a good bit of interest in the farm so far,” Mr Crosse said. “It’s always difficult to gauge real interest in an auction until late in the day — often not until the week of the sale itself, but there should be very good interest in this property. Rarely does a farm of such quality and so conveniently located come to the market in this area.”

As for the price, he confirms  the guide will be “in excess of €1m” (€10,200/acre). It is not an exceptional guide for a property with such strong credentials but when it comes to public auctions, it is not where you begin but where you end that matters — this farm could prove a strong finisher.