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Saturday 23 June 2018

Limerick farm sold after 'disappointing' auction

Image: Charles O’Brien & Son Auctioneers
Image: Charles O’Brien & Son Auctioneers
Jim O'Brien

Jim O'Brien

Despite a shaky start, all ended well at a West Limerick auction last week when a 51ac farm at Lower Shanid, Shanagolden sold in two lots after being withdrawn. The combined proceeds from the sale amounted to €465,000, or just over €9,100/ac.

The holding is located one mile from Shanagolden with frontage on to the Newcastlewest road, the R521. Bisected by this public road, the farm is in two lots with a parcel of 16ac on the right hand side and 35ac on the other. The 16ac piece comes with a derelict residence and a cattle crush with water supplied by a local stream.

The larger 35ac parcel at the other side of the road is somewhat lower than the smaller section and comes without buildings. Divided into six fields it too is watered by a stream and has access from two entrances.

At auction, the 16ac piece opened at €140,000 and held there. The 35ac opened at €200,000 and attracted no further bid. Auctioneer Charlie O’Brien wasn’t very hopeful as he withdrew both sections, however, later negotiations went very well.

The 16ac piece was bought for €175,000 by a local man believed to be acting for his brother resident in Canada, while the 35ac piece was bought by an adjoining farmer for €290,000.

“It was a very disappointing start,” Mr O’Brien said, “but proceedings reached a very satisfactory conclusion. Vendors, purchasers and auctioneer were very satisfied.”

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