Busy auction week highlights vibrant land market in the Golden Vale
Aerial shot of 64-acre farm at Drombeg, Kilmallock, sold at auction.
It was a very lively week at Kilmallock Mart’s auction rooms for GVM Auctioneers, with three results that speak volumes of the vibrancy of the current land market in the Golden Vale.
The first was at noon on Friday, September 12, when a 35.5-acre farm at Millmount, Kilmallock, Co Limerick sold for €540,000 (€15,000/acre).
The property included a house in need of total refurbishment and a good collection of outbuildings. It was sold in trust to an auctioneer, believed to be representing a local "well-known family".
At 3pm on the same day, and before a larger crowd, a 64-acre farm at Drombeg, Kilmallock, went for €1.25m (€19,500/acre) to a Kerry-based purchaser. It sold as whole, although it was initially presented in lots.
One week later, a third auction took place on Friday, September 19, of a 39.75-acre farm at Ballynoe, Kilmallock. This time, the success was partial, with two of the three lots selling and the third remaining for sale.
Lot 1 (14.25 acres) sold for €165,000 (€12,000/acre), Lot 4 (1 acre) sold for €10,000, and the remaining 24.5 acres in Lot 2 failed to sell at auction.
