Limerick farm fetches almost €29k an acre at auction
Aerial view of the 49 acre farm that fetched almost €29k/acre at auction in Limerick.
Auction results in Limerick have been very positive during the year, with occasional spectacular results making the headlines.
GVM Auctioneers have been involved in a good number of them and the latest results have seen them end the year on something of a high note.
Tom Crosse of GVM Auctioneers was the man wielding the gavel at the recent auction of 49 acres of land at Killonan, Monaleen. With its location on the periphery of the fast-growing metropolis of Limerick city, it was slated well in advance as one to watch for its convenient location, quality of land, and ease of access. Furthermore, Tom lives in the area and says that he has intimate knowledge of “every blade of grass in the parish.”
“This holding has frontage onto three roads,” says Tom, “and contains some old out-offices and sheds…The property has no residence or single farm payments.”
Bidding opened at €600,000 (€12k/acre), with at least four participants pushing the sale price to €1,410,000 (€28,775/acre) before the gavel finally hit the table. This is the second such GVM land sale in recent weeks when this type of price per acre was achieved, following on from the sale of 47 acres at Ballykilty Quin which made €1,350,000 (€28,700/acre).
GVM Limerick has a further 40 acres coming up for sale in this locality in two weeks. Willowbrook in nearby Lisnagry is a 40-acre holding located on the Mackey roundabout at the junction next to the Motorway. The guide price is €1.5m.
