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Saturday 23 September 2017

e427,000 paid for 42ac near 'sweet Adare'

Jim O'Brien

Jim O'Brien

A 42ac block of land on the outskirts of the lovely village of Adare, Co Limerick, was bought at auction last week by a farmer from Kerry for €427,000.

Tom Crosse of GVM Auctioneers had four bidders for the property when the auction opened at €250,000 but none of the other parties could live with the farmer from the west.

The 42ac lot is located across the road from Adare Golf Club and is laid out in a number of well fenced and watered fields with frontage on to a cul-de-sac lane and also on to the River Maigue.

The sale price of almost €10,000/ac is on par with what similar quality land in the mid-west is making at the moment.

Tom Crosse also handled the sale of a 32ac roadside farm at Clashdrumsmith, Emly, Co Tipperary. It was withdrawn from auction at Kilmallock last week when bidding reached €326,000. The property was sold after auction for a price closer to the €350,000 reserve.

While the farm had originally been guided at €300,000, the reserve was raised prior to auction

Located on the Emly to Cullen road, Mr Crosse described the land as excellent quality grassland laid out in three divisions with good road frontage. The property comes with cattle handling facilities that include a holding pen, cattle crush and shed.

Mr Crosse had four bidders when the property opened at €200,000.

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Bidding proceeded in tranches of €10,000 until the price on offer came to €300,000.

It then proceeded in increments of €5,000 and €1,000 to bring the highest bid to €326,000.

At that point the property was withdrawn and sold for a higher figure to a farmer believed to be acting in trust for another local landowner.

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