35-acre Limerick land parcel garners satisfactory post-auction price
The yard and outbuildings of the 35-acre farm at Ballyroe, Ballingarry, Co. Limerick.
The Woodlands House Hotel in Adare, Co Limerick, was the venue for another successful auction by Limerick-based GVM Auctioneers on Wednesday, October 28.
Although the farm in question didn’t sell on the floor, it was sold immediately after the auction, according to Tom Crosse of GVM.
“This was a truly top-class piece of Golden Vale land,” said John O’Connell of GVM in advance of the sale.
“It’s all in one block, has extensive road frontage and is just 2km from the village of Ballingarry. The range of outbuildings includes a slatted house, a cattle crush and a meal bin.
“The topography is sloping, making for good natural drainage and the holding is ideal for all types of use, including beef, dairying, equestrian or hobby farming… and it’s in a very strong location.”
There was a simultaneous auction online, but most of the action took place on the floor of the auction room at Woodlands House.
Bidding opened at €350,000 (€10,000/acre). After a series of bids, the holding’s value increased to €490,000.
At this level of €14,000/acre, it was still shy of its reserve and was withdrawn.
A deal was concluded immediately after the auction at a figure believed to be in the region of €575,000 (€16,400/acre). Tom Crosse of GVM afterwards described the price achieved as very satisfactory.
