‘Record’ price of €1.35m paid for 47 acres at auction in Limerick

THERE was smoke coming off the gavel at the auction of 47 acres of land at Ballykilty, Quin, County Clare.

The holding is laid out in nine main divisions, serviced with a private water supply and is ideal for all types of farming use including beef, dairying, equestrian or hobby farming.

Due to the location it could prove to be an excellent investment opportunity as there is extensive frontage to two roads and possible site potential.

GVM’s Tom Crosse didn’t have to work hard at the company’s Limerick City Auction Rooms to get the opening bid.

It started at €600,000 with no fewer than six participants battling it out for the prized parcel of excellent quality limestone land.

“The auction was a blended version of online bidding and attendees. The property was placed on the market at €1,070,00 and several bids later the gavel fell to rapturous applause at this wonderful selling figure of €1.35m,” said Mr Crosse.

Farm Leader understands the purchaser is a local dairy farmer with equestrian interests.

There is no single farm payment and out-offices are limited. There is two storey farmhouse thereon, which according to Mr Crosse has a value in the region of €175,000.

Taking this figure off the overall sale price, the land still fetched €25,000 per acre.

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“Surely a record for East Clare land,” said Mr Crosse.

His GVM colleague Richard Ryan was busy two days earlier as he presided over the auction of 24.7 acres at Coolagowan, Castletown at Kilmallock Mart.

It was described by the auctioneers as, “An excellent quality roadside farm situated in the heart of the Golden Vale with derelict farmhouse residence thereon”.

The opening bid of €200,000 was rapidly followed up by twenty €10,000 bids from two on-site bidders and one online bidder to reach €400,000 at which stage there was a recess.

On returning, Mr Ryan stated that he had received instructions from the vendors and declared the property on the market.

Despite giving everyone ample opportunity to increase the bidding there were no further bids and Mr Ryan’s gavel came down at €400,000 with an on-site bidder winning the day.

Commenting afterwards, Mr Ryan, of GVM Kilmallock, said that he was very satisfied with the price achieved which was €50,000 over the guide price.

He said what really made the holding attractive was that the land quality was naturally very good.

He added the presence of a a derelict residence offers a lot of potential.