Limerick ground that sold for just £27/ac in 1955 goes for five-figure sum at auction
A 20ac portion of a west Limerick farm that sold for £27/ac in 1955 made €10,231/ac at auction last week, writes Jim O'Brien
The 20ac is now part of a 41ac non-residential farm at Ballyneety, Shanagolden that sold under the hammer of auctioneer Paddy Barrett making a total of €440,000.
Located 5km from Ardagh and 6.5km from Shanagolden the farm is laid out in 10 fields of grass with good road frontage. According to Mr Barrett, the ground was rented for 15 years and well looked after by the tenants.
The holding includes about 2,500sqft of farm buildings comprised of a three-column haybarn with a lean-to covering two sheds. There are also cattle-handling facilities.
On the day a good crowd showed up at Loughill Resource Centre in the village of Loughill between Foynes and Glin. When bidding opened at €340,000, two bidders took to the fray - a solicitor and a local farmer.
In increments of €10,000 the price rose to €400,000 at which point the bids came back to amounts of €5,000 but matters continued steadily until the property was put on the market at €420,000. The hammer fell at €440,000 in favour of the local farmer.
A 49ac farm at Gurteenphooka, Donohill in Co Tipperary sold under the hammer to a pair of joint bidders for €465,000 or almost €9,500/ac. The selling price surpassed the guide by about €1,500/ac.