Limerick land fetches €12,500/acre at public auction

There was success once again for Limerick-based GVM Auctioneers, with the sale of 34 acres in four lots.

Although the seasonal nature of selling land has, in recent years, become a more year-round phenomenon, a number of autumn land sales by public auction lately appear to be re-establishing the traditional pattern.

As with the previous week, there was success once again for Limerick-based GVM Auctioneers, with the sale of 34 acres in four lots.

The holding in question is located at Pallaskenry, 20km west of Limerick City and just south of the Shannon Estuary.

Tom Crosse was the man with the gavel on the day, orchestrating bids from online and the floor of GVM’s auction room in Limerick City.

The land was of good quality but with no electricity or water connected and there were no outbuildings.

Lot 1 (13.5 acres) fetched €180,000, Lot 2 (6.5 acres) went for €100,000, Lot 3 (12 acres) sold for €115,000 and Lot 4 (2.8 acres) achieved a price of €30,000. The overall price achieved for the 34-acre holding, therefore, was €425,000, or €12,500/acre.

All purchasers were local and involved in farming. Commenting afterwards, Tom Crosse said that the price point was about right for the location, lot sizes and land quality.