Farm Ireland

Wednesday 26 October 2016

Limerick holding goes for €10k/ac after lively auction

Jim O'Brien

Published 20/05/2015 | 02:30

Over €10,000/ac is understood to have been paid for an 82ac holding outside Limerick city.

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The farm, located at Toberyquin, Ballyneety, Co Limerick, was sold after auction for a figure believed to be in the region of €850,000.

Located on the outskirts of Limerick city, the farm is made up of elevated limestone ground commanding fine views of the surrounding countryside.

The holding is divided into 11 well-fenced fields with a central roadway running through.

The auction, conducted by Tom Crosse of GVM Limerick, attracted a sizable attendance of up to 50 people. Bidding opened at €500,000 but the price quickly rose to €760,000.

As no further bids were forthcoming, the property was withdrawn and in a deal concluded immediately after the sale, it is believed a price in the region of €850,000 was paid. The buyer is a substantial farmer from a neighbouring parish.

Meath sales

Meanwhile, Trim auctioneer Thomas Potterton also had a mixed day in the auction room recently.

A 59ac parcel in the Rathcairn Gaeltacht at Dressogue, Athboy, Co Meath was withdrawn from auction after reaching a price of €452,000, while an 11.5ac piece at Glaxstown was withdrawn at €62,000 and sold immediately after the auction.

On the day of auction, proceedings for the farm at Dressogue opened with a bid of €380,000 and moved up in increments of €5,000 with two bidders in the chase.

Mr Potterton consulted the vendors when the price reached €432,000 and again at €452,000 where it was agreed to withdraw the property. Negotiations are continuing with the highest bidder, an adjoining farmer.

The land at Glaxtown, near Delvin in Co Westmeath, was offered with a guide of €70,000. Bordered by a stream and laid out in one division of pasture, the property is described by Mr Potterton as ideal for a residence, subject to planning permission.

The auction opened at €50,000 and with two bidders showing interest it went up in increments of €2,000 until it was withdrawn at €62,000. A local farmer bought the place afterwards for a price believed to be near the guide.

Staying in Meath, Navan auctioneer John Harrington had his slow day in the auction room when a 31ac farm at Fosterfields near Athboy failed to sell at auction.

Described as a nice fertile piece of ground, the place came with an old farmyard and a disused dwelling house.

On the day the house and yard on 20ac was bid to €150,000, while a lot that included 11ac in one field was bid to €80,000 - making a total of €230,000. The entire lot was then bid to €270,000 before being withdrawn. Mr Harrington is in negotiations with the highest bidder.

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