Trio of March auctions sees 300a of Limerick land sold
A picture of the 31-acre farm sold at auction, Graigacurragh, Kilmallock.
A highly productive month for GVM saw 3 farms put up for auction in Limerick City and Kilmallock in the space of 4 days, involving almost 300 acres of pasture and a combined total of approximately €4,000,000.
On the 31st of March, a 210-acre holding at Kilmacow was auctioned at the Woodlands Hotel in Adare.
Located 10-minutes from Adare, the “top class holding in a wonderful location” featured a derelict farmhouse and 180 acres under grass, the remainder on a hill needing attention.
Initially presented in 2 lots of 137 and 73a by auctioneer Tom Crosse, the combined bids of €1,800,000 (€8,600/acre) were eclipsed by an offer of €2,600,000 (€12,400/acre) when offered as the entire.
Still short of the reserve of €3,000,000, the property’s withdrawal led to negotiations with the highest bidder. While the eventual sale price was not disclosed, local sources suggest a figure of circa €2,750,000 (€13,000/acre); purchaser believed to be a local dairy farmer.
On March 27th, 2 farms totalling 77 acres were put up for auction by the same agents at Kilmallock Mart.
The first auction featured a 46-acre roadside farm at Ballyvologue, Ballingarry, Co. Limerick. Described by auctioneer Richard Ryan as a “superb south-facing Golden Vale holding”, it boasted excellent-quality pasture with extensive road frontage, outbuildings and a 1970s bungalow needing refurbishment.
With bids also coming in online via LSL Auctions, it went from an opening bid of €650,000 to €820,000 (€18,000/acre). Mr Ryan subsequently announced the property on the market and it was sold to a bidder on the floor – estate agent Pat O’Donovan, believed to be representing a local farming family.
An hour later, it was the turn of a 31.2-acre grassland farm at Graigacurragh, Granagh, Kilmallock – described as high dry lands of good quality in permanent pasture, with cattle pen and crush.
Opening strongly at €375,000 (€12,000/acre), the bidding stalled until an online bid restarted the process, bringing it up to €415,000 (€13,300/acre), at which price it was sold to Richard Woulfe Acct., believed to be representing a local farmer.
