Agricultural land on offer at bargain prices
Agricultural land will be among a number of rural properties to feature in a mass auction of properties to be conducted by Allsop Space and held at the Shelbourne Hotel, Dublin, on March 1
Customers for farmland will be interested to note that the reserves on some of the properties in no way reflect the current prices of agricultural land.
For instance, a 48ac parcel located at Lismulbreeda, Darragh, 10km to the west of Ennis, Co Clare, commands a very modest reserve of €120,000, or less that €2,500/ac.
The original guide price for this property when it went for sale by private treaty was €300,000.
The current reserve represents a 60pc drop in expectations.
The property includes a derelict farmhouse with outbuildings and comes with good road frontage.
Richard Hoban, of Allsop Space, explained that the properties are the subject of receiver sales.
"Of the 100 properties in the auction, 30pc are private sales and 70pc are on the instructions of the receiver," Mr Hoban said.