19.5-acre land parcel in Clare makes €14,900 an acre
Auction was a good opportunity to get an insight into seeing how the market in Munster for smaller parcels of land might be faring.
At GVM Auctioneers’ Limerick City office last Thursday, a 19.5-acre parcel of land was auctioned in lots, with satisfactory results.
The man with the gavel on the day was Tom Crosse and this was always going to be an interesting auction. With many of the larger parcels of land grabbing the headlines for high prices, this was a good opportunity to get an insight into seeing how the market in Munster for smaller parcels of land might be faring.
The property is on the outskirts of the village of Kilmurry in South-East Clare, 19km from Ennis, 13km from Shannon and 20km from Limerick City.
With extensive road frontage, planning site potential and just a short walk from the village amenities, the holding had enough to attract a good deal of interest, particularly from the hobby farmer sector.
The land quality varied, with some good and some of mixed quality, according to the selling agents.
Lot 1 consisted of eight acres, 6.5 acres of which were good land, with the remainder relatively heavy. It sold for €135,000 (€16,800/acre).
Lot 2 — 6.5 acres of mixed-quality land — sold for €90,000 (€13,800/acre)
Finally, the gavel fell on a figure of €65,000 (€13,000/acre) for Lot 3 — a five-acre parcel of low-lying land.
The overall result of €14,900/acre was greeted with delight by Mr Crosse, who said it “underpinned the view that the well-located land in small parcels will always sell with hobby farmers — now emerging as serious contenders in the marketplace”.
