Businessman swoops to land Limerick farm for €23,000 per acre
In the top auction of the year so far, a 42ac farm on the western edge of the picturesque Adare village in Co Limerick sold at auction last week making a per-acre price of €23,095 and an overall figure of €970,000.
Five bidders including local farmers drove the price initially but two businessmen fought it out in the end.
The residential holding at Rower Beg is 2.5km from Adare with frontage on to the N21 linking Limerick to Tralee. It was guided prior to auction at €650,000.
The land was on the market as farmland but it was always felt business interests would swoop in.
While the residence is in need of complete renovation, auctioneer Tom Crosse said its value lies in its potential to ease the passage of planning permission for a new residence in this much-sought-after address.
A dated yard behind the house was once home to an abattoir.
The land is made up of top-class ground in an area that is home to some of the best dairy farms in the country and a range of highly regarded equestrian holdings.
Laid out in four large fields fenced with traditional hedgerow, the property is in one block and ideal for dairying, either as an out-farm for replacements or for fodder production.