Farm Ireland
Independent.ie

Wednesday 24 May 2017

Treaty farm sells in lots

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.

Two bidders took lot three to €360,000 and it was sold to a local farmer for €362,000.

Mr Purcell described the overall price, in excess of €7,600/ac, as satisfactory.

Irish Independent