A flurry of capital gains in the midwest
The number 13 is said to be unlucky for some but it proved to a fortunate numeral for Tom Crosse of GVM Limerick as he closed thirteen rural property deals in the dying days of 2014.
The looming Capital Gains Tax deadline in December focussed the minds of vendors and buyers and led to expeditious sale closures, explained Mr Crosse.
The biggest transaction was the sale of Cloverfield House, a 130ac residential farm at Dromkeen, Co Limerick. This was sold for a figure believed to be in the region of €1.2m or over €9,000/ac.
The farm is described as a fine parcel of ground with great dairy potential. Located 3km from Dromkeen off the main Limerick-Waterford road, it includes a derelict gate lodge and a sweeping driveway leading to the residence, with a traditional courtyard to the rear.
The house is in need of renovation and refurbish-ment, with accommodation that includes a sitting room, dining room, kitchen, study, five bedrooms and a bathroom.
The farmyard buildings include a cubicle shed, a silage slab, slurry tank, cattle crush, a haybarn and a disused five-unit herringbone milking parlour.
There is also a range of ancillary out offices in the courtyard.
Closer to Limerick city, a 72ac farm at Staunton, Ballysimon sold for €750,000 - almost €10,500/ac.