Farm Ireland

Wednesday 21 February 2018

Bid of €815,000 fails to secure 129-acre farm in Limerick

Jim O'Brien

Jim O'Brien

A 129ac residential farm at Crecora, near Croom, Co Limerick, failed to sell at auction last week but huge post auction interest is reported.

According to Pat Kearney, of Rooney auctioneers, the current price on offer 'dramatically' exceeds the closing bid of €815,000.

The sale of the farm had a guide €1.3m before the auction. Situated in the townsland of Ballinveala, Crecora, the property is located 9km from Limerick city, between Crecora village and Croom. The ruins of Ballinveala Castle with its imposing keep are located on the land and dominate the property.

The residence is a substantial five bedroom farmhouse with one ensuite and a family bathroom, two reception rooms, a dining room, kitchen/breakfast room and office.

The dated farmyard includes two storage sheds, a five-column open ended haybarn with an enclosure for greyhounds, a five-column enclosed haybarn with two covered side sections, a silage pit/slurry tank. A derelict building, possibly the remnants of a farm labourer's cottage, is located at the back end of the farm.

The land is described by Mr Kearney as good fertile ground except for "one small bad patch".

All in grass and in one compact unit, the farm is laid out in 16 well-fenced fields accessed by a central roadway. The holding comes with annual entitlements of €18,390.

More than 30 people attended the auction and three bidders showed active interest when proceedings opened at €500,000.

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In various bids of €50,000 and €10,000, the price rose to €815,000 – at which point the farm was withdrawn.

According to Mr Kearney, the highest bidder has substantially increased his offer. Meanwhile, the auctioneer is continuing to show the farm and reports active interest from farmers in Kerry, Cork and Limerick.

Irish Independent