Business Farming

Sunday 25 September 2016

Big potential in the heart of Shannonside commuter belt

A traditional residence with a substantial farmyard and 75ac is up for sale on the outskirts of Limerick city

Jim O'Brien

Published 30/03/2016 | 02:30

The property is located at Shrahane near the Ballysimon Road on the outskirts of Limerick city.
The property is located at Shrahane near the Ballysimon Road on the outskirts of Limerick city.

The amount of traffic on the roads, especially at rush hour gives an indication as to the economic state of the country. I work from home so I rarely have to endure rush hour traffic but I got a taste of what it can be like when I arranged to meet Tom Crosse on the eastern fringes of Limerick City just as rush hour began.

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We were on our way to see a 75ac farm on the outskirts of the Shannonside city. The farm comes with a lovely cut-stone house and an old courtyard and is located at Shrahane, Ballysimon within easy commuting distance.

"There's a new raft of customers for places like this now," said the GVM auctioneer as we negotiated our way from the Ballysimon Road to the farm at Shrahane about 7km from the city centre. "With the pick up in the economy, properties like this are attracting non-farmers and hobby farmers," he said.

The residential holding is made up of 22ac of grazing ground and 52ac of forestry and comes with an overall guide of €650,000.

Approached by a hard-core avenue through paddocked fields the house is set in an old courtyard with some lovely cut-stone sheds and out houses typical of Victorian farmyards.

The sheds in an L-shaped section of the yard are in good condition and well-roofed while other parts of the yard are in a state of disrepair. An outer farmyard contains a number of more modern but dated galvanised sheds.

The main house oozes character and is currently lived in. The accommodation on the two floors includes a sitting room, a kitchen/dining area with fitted units, a larder and three spacious bedrooms and two bathrooms.

The dwelling is in a lovely setting with a small intimate garden to the front.

The 22ac of grazing land is in the main good dry ground that is well looked after and currently home to a herd of sucklers strip grazing the place.

The rest of the land comprises 52ac of forestry delivering an annual premium of €10,000/ac with four years of premiums left to run. According to Mr Crosse the thinnings have yet to be taken off the forestry and will yield further income.

The property can be bought in its entirety or in lots with the house and yards on 22ac guided at €425,000, while the 52ac of forestry is guided at €225,000.

Mr Crosse expects lively interest from farmers and non farmers in the property.

"This is commuting territory but it is also a good farming area," he explains. We drive past a 73ac farm at Staunton, Ballysimon sold by him in the last few months making €775,000 or over €10,000/ac.

Private treaty sales

Indeed land sales at the Limerick offices of GVM have picked up since the turn of the year with properties on the books for some time selling in a number of private treaty transactions.

A parcel of 41ac at Clorane between Kildimo and Adare about 16km from Limerick city was sold recently for €365,000 or over €8,000/ac. The farm, which was withdrawn from auction last year, is described as a good dry piece of ground set out in manageable fields with good road frontage, a water supply and cattle handling facilities.

Moving to east Limerick a 76ac holding at Herbertstown made up of good grazing ground with frontage on to the main Limerick to Mitchelstown road made €500,000 or just over €6,500/ac. The property was withdrawn from auction last year.

The lands are watered and well-fenced and come with a cattle crush and pen.

A 90ac residential farm at Courtbrown, Askeaton in West Limerick withdrawn from auction some months ago sold recently for a figure believed to be in the region of €700,000 or €7,700/ac.

Made up of good grazing ground the holding is located overlooking the Shannon estuary in an area renowned for dairying and beef.

The farm includes a dormer style farmhouse that is somewhat dated but in good repair while outside the farmyard includes a hay barn, silage slabs and a range of useful sheds.

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