Farm Ireland

Monday 19 March 2018

40ac Limerick farm flies past guide price

Jim O'Brien

Jim O'Brien

A 40ac holding at Toomdeely, Askeaton, Co Limerick was sold at auction last week for €370,000. At €9,200/ac, the sale price substantially exceeded the guide of €6,000/ac.

The land, which runs down to the Shannon, is drained and fertile and well looked after.

The farm is accessed by a tree-lined passageway leading to a yard with a derelict house.

The property carries entitlements of approximately €8,000/yr.

The auction in the GVM auction rooms, Limerick attracted a crowd of 30 people.

Bidding opened at €200,000 and with four local bidders in the frame the price quickly came to €280,000.


The property was put on the market at this point and bidding continued until the hammer fell at €370,000.

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Tom Crosse of GVM was delighted with the result, saying the sale boded well for farmland in the region.

"The sale of agricultural land is very much on the up, with demand in the mid-west very strong," he said.

Mr Crosse also sold 15ac of corcas land at auction last week for €55,000, or almost €3,700/ac.

Located at Ballycullane, Fedamore, the land is described as summer grazing accessed via a long passageway.

GVM recently concluded the private sale of a 44ac parcel of ground near the village of Crecora.

A local man is believed to have paid in the region of €375,000 or €8,500/ac for the land.

Irish Independent