Disappointed underbidders at auction of 31 acre grassland farm in Limerick

A 31.2 acre grassland farm at Graigacurragh, Granagh was put up for auction before Easter.

It took place in GVM’s auction room in Kilmallock Mart with GVM’s Richard Ryan the man on the rostrum.

The lands were described as “outstanding - high, dry, all in permanent pasture and divided into easily managed fields”. There is a cattle pen and crush thereon.

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The property was offered for sale in its entirety. The bids came from both in house and through the online LSL facility with a strong opening bid of €375,000 from the floor.

There were no further bids at the time of a recess. On returning, Mr Ryan stated that the property would be withdrawn if there were no further bids.

This prompted an online bidder to put their best foot forward and after a number of €5,000 bids the property arrived at €415,000.

On returning after a further recess, the property was put on the market with Mr Ryan’s gavel hitting the rostrum a few minutes later at €415,000 in favour of accountant Richard Woulfe, who was believed to have been representing a farmer from the area.

Commenting after the auction, Mr Ryan said that he was pleased with the price achieved. He  noted there were disappointed underbidders still seeking similar holdings, underlining the strong demand for quality farms in the area.