€500k drop in Limerick guide price
Published 28/06/2011 | 05:00
The guide price for a 140ac Co Limerick farm which went to auction last week has been reduced by €500,000 after the farm failed to sell.
The property at Ballybrood, Caherline, had been guided at €2m ahead of last Wednesday's auction but it is now being offered for sale at €1.5m.
Although auctioneer James Lee had a full room for the sale, he said there were no serious offers for the property.
The farm is now being sold by private treaty, Mr Lee confirmed. He said most of the interest had been from Co Limerick farmers.
The 140ac farm includes 55ac of forestry and 85ac of "right good land", according to Mr Lee.
The forestry has 11 years of premium payments remaining, which are worth €10,000 per annum.
The farm, which is located three miles from the east Limerick village of Caherconlish, has accommodation for around 300 cattle.
The farm buildings include a five-bay shed, a three-bay shed, a slatted shed, two cubicle houses, as well as a six-bay slatted shed, cattle handling facilities and silage yard. The property also comes with a modern two-storey, over basement residence which extends to 5,000sqft.