All happy as 78ac sells
Published 15/03/2011 | 05:00
A 78ac farm at Cooltomin, Askeaton, Co Limerick, sold at auction recently for €605,000 (€7,750/ac).
Located within five miles of three west Limerick towns -- Askeaton, Shanagolden and Rathkeale -- the non-residential holding with 300m road frontage was described as top-quality limestone grazing ground, with some being of a low-lying, softer quality.
Laid out in 10 fields, it has a natural water supply delivered by a stream that runs through the property.
A crowd of 25 people turned up at the Woodlands House Hotel, Adare, according to Richard Ryan, of GVM Auctioneers in Kilmallock.
The farm was offered in one lot and bidding opened at €300,000. Two customers declared interest at an early stage and, in bids of €10,000, the sale progressed slowly until it reached €380,000.
At that point a bid of €20,000 brought the price to €400,000 and, following a further bid of €10,000, Mr Ryan consulted with the vendor.
After the recess, the sale reopened but no bids were forthcoming. A further recess was called and withdrawal of the property was considered.
However, when the property was reintroduced to the room, bidding resumed and, in increments of €10,000, the price came to €470,000.