Limerick auctioneers rack up over €6m in land sales in three months

THERE have been no summer holidays so far for GVM’s Tom Crosse after a busy number of weeks of auctions.

He reports that 52 acres - 40 of which are corcas land - in Coonagh was sold in three lots for a combined figure of €500,000. A 22 acre holding at Patrickswell fetched €440k or €20,000 per acre.

READ MORE: Publicans ‘call time’ as six hostelries in Limerick and Clare are put up for sale

Thirty acres at Monagea, Newcastle West was knocked down by Mr Crosse at €510,000. The auctions continued with a 40 acre holding at Dromard, Rathkeale which made just shy of €400,000 or €10,000 per acre. 

A 136 acre farm at Barnlough, Bansha in Mr Crosse’s home county of Tipperary was sold at €2.1m. Staying in Tipperary, a 4.5 acre field in Cappawhite made €84,000.

Returning to Limerick, a seven acre field in Dromkeen was sold for a figure in the region of €12,500 per acre. 

Mr Crosse wouldn’t be drawn on the price achieved for a 102 acre farm at Lisamoate, Adare which was sold by private treaty. He described it as “a very satisfactory figure”. Eighty acres at Castletown, Ballyagran also changed hands. 

“Total land transactions in the last quarter exceeded €6,000,000,” said Mr Crosse.

He said demand for good quality holdings is as keen as ever, particularly, with milk and beef prices doing well. 

“The business community continue to be very keen to acquire land, pushing those that are directly involved in the farming industry,” said Mr Crosse.

GVM have a number of attractive lots coming to the market including 33 acres at Moig, Pallaskenry; 23 acres at Robertstown, Shanagolden, and 38 acres at Mount Nagle, Mallow. 

Full details available on www.gvm.ie