17a Limerick holding fetches €46k/acre in auction extravaganza

The house and outbuildings on teh 17 acres sold at auction, Newboro, Patrickswell, Co. Limerick.

GVM Auctioneers in Limerick continued their strong run of auctions with the sale of a 17-acre holding last week that exceeded expectations by a considerable margin.

The property in question is at Newboro, Patrickswell, County Limerick. The sale took place on Wednesday 1st of July at the Woodlands Hotel in Adare, with a simultaneous online auction. It was the first of 3 properties that went under the hammer that day.

“A truly superb parcel of land,” is how auctioneer Tom Crosse described the property, “with frontage onto two roads, including the old main road linking Adare and Patrickswell.

“It has great soil quality, and the fields are very well laid out for all types of farming use. Given the very strong location, this holding may also have potential for sites in the long term (subject to planning).”

With such a strong location near Adare, there was always going to some strong interest from the non-farming community. With the coming Ryder Cup event, stock in this part of Munster has risen further still amongst the cohort of purchasers who are keen to purchase a home with some considerable acreage attached.

With its charming house and outbuildings in need of renovation, this property fit the bill perfectly. It wasn’t surprising, therefore, when the lively auction saw the gavel fall on a figure of €780,000. At €46,000/acre, it was 40% above its pre-auction expectation of €550,000. On a day of multiple auctions celebrating GVM’s 40th anniversary, it was the headline-stealer of the show.