Farm Ireland

Tuesday 17 October 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.

Also Read

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 Comments Facility

INM has taken the decision to remove the commenting facility on its online platform to minimise the legal risk to our business that arises from Ireland's draconian libel awards system.

We continue to look forward to receiving comments through direct email contact or via social media, some of which may still be featured on the website