Treaty farm sells in lots
Published 26/10/2010 | 05:00
A big crowd turned up at the Woodland House, Adare, Co Limerick, last Wednesday for the auction of a 133ac residential farm located at Rathcannon, Athlacca.
Sold in three lots, the property made €1.012m.
Phillip Purcell of selling agents GVM Auctioneers, Kilmallock, opened with lot one, the residence, yard and equestrian facilities on 56.55ac. Seeking bids in excess of €150,000, two bidders competed until the price reached €430,000 when it was put on the market.
Attention turned to lot two, 36.18 ac of rushy lowland. It opened at €100,000 and two bidders took it to €200,000 when it was put on the market.
Lot three, 39.78ac described by the auctioneer as the best of the holding's land and in three good road-fronted fields, opened at €300,000. Two bidders took it to €350,000, where it went on the market.
Bids were then sought for the entire in excess of €980,000, but as there was no bid, the focus returned to the lots.
One initially interested party was replaced by a new entrant and the lot was sold to the son of a local farmer for €450,000.
Lot two got no more bids and was sold for €200,000.