€675,000 guide for Lisnagry farm
Published 30/07/2014 | 02:30
There was a time when 62ac on the outskirts of Limerick city would make a fortune and a half. But, given the times that are in it, a decent agricultural price is all that is expected.
Tom Crosse of GVM is quoting a guide price of over €10,000/ac, or €675,000, for the residential holding, which is located off the Mick Mackey roundabout at Lisnagry, Limerick. The property is for sale by private treaty.
Described by Mr Crosse as a "truly outstanding residential roadside holding", the property is located off the Castletroy exit from the M7, the first exit to Limerick from the Dublin side. The farm has frontage on to the motorway itself, on to the Newport Road and the Ahane Road.
According to Mr Crosse, the prime location is a major selling point.
"It is close to the University of Limerick, to a range of local industrial and business parks with direct access to the city," he said.
The land, which is actively farmed at the moment, is laid out in 11 divisions that are well watered and fenced.
The farm consists in the main of good grazing ground with a smaller section of heavier land at the back.
The bungalow residence on the property is a four bedroom construction, which in need of some repair. The site's out offices are also in need of modernisation.
The property was purchased back in the days of the boom for a figure believed to be in the region of €3m, and while those days might be over, Tom Crosse believes that this piece of ground has plenty of possibilities, not just in terms of agricultural use but as a long-term investment opportunity with "loads of potential".