220ac Limerick farm expected to fetch about €3.5m at auction

The farm is new to the market, but even before its launch, interest had already been building in this property, writes Conor Power

The house and farmyard of the 220-acre farm for auction at Gortmore, Feenagh, Co Limerick

One of the largest holdings to come on the market so far this year, a 220-acre Limerick holding, will be as rare and tempting to the farming community as it will be to those interested in investment in a development opportunity.

The expectation is the property could fetch about €3.5m at auction.

“It’s a probate sale,” says selling agent Pat Dooley of REA Pat Dooley. “It’s all in one block in a village location — in the townland of Gortmore, in the village of Feenagh in Co Limerick.

“We’re advertising it as having future development potential, with the acres being located around the village itself.”

The farm is new to the market, but even before its launch, interest had already been building in this property.

“We’d already been getting strong interest from local dairy farmers and from business people, as well as from agents acting on behalf of business people.

“With the nitrates derogation issue, farmers don’t want to have to reduce their herd size. They’re constantly looking for more acres,” says Mr Dooley.

The farmhouse is in reasonable but in need of modernisation.

The property is all in one block and all in pasture, which has been very well-maintained over the years, the agent said.

“The lands were previously rented on a long-term basis with two very good tenants who have kept it in fantastic order. It’s all been re-seeded over the years. There are fantastic roadways leading to all the fields. It’s very well-fenced and there’s water supply to all the fields… it ticks all the boxes," he added.

The dwelling on the property is a traditional four-bedroom farmhouse which, the agent says, is in reasonable condition but in need of modernisation.

“It’s in the village, and there’s an acre around the house,” says Mr Dooley. “And it’s connected to all the mains services as well.”

The property is due for auction on Thursday, April 30, at the Charleville Park Hotel. It will be offered as a whole and in lots which are yet to be clarified. 

While the agents remain tight-lipped on the expected price, this is a property that should achieve something in the region of €3.5m (€16,000/acre).