May auctions see 48 acres of Golden Vale farms fetch over €1.1m
The farm at Croom, Co. Limerick, sold at auction for €625,000.
Limerick-based GVM Auctioneers enjoyed successful auctions in May, with two very recent sales conducted by Richard Ryan of GVM’s Kilmallock office.
The first was on May 12, when a roadside 32-acre farm at Church Road in Croom went under the hammer.
Richard described it as “an outstanding farm… superbly located less than 1km from Croom in the heart of the renowned Golden Vale.”
With one bidder registered online, all the bids came from the floor, opening at €425,000 (€13,300/acre), before quickly rising to €545,000 (€17,000/acre).
After a brief recess, the property was on the market and another round of bidding brought it to a very satisfactory €625,000 (€19,500/acre) — sold to Limerick auctioneer Paul O’Brien, acting for an unknown buyer.
The second auction on Wednesday, May 20, was for a 15.75-acre grassland farm at Castlefarm, Hospital; sold in two lots.
The first to sell was Lot 3 (a combination of Lots 1 & 2). This 13.8-acre lot fetched €475,000 (€34,000/acre), the existence of a house increasing its value markedly.
It was purchased by a local family with farming and equestrian interests.
The second lot was a two-acre low-lying field accessed via a long passageway. A local farmer bought it for €15,500.
Afterwards, Richard expressed delight at the combined result, citing continued strong demand for quality farms in the area.
