'Cracking property': House, farmyard and 20 acres in Limerick sells for total of €855,000
The auction of the residential holding in Curraghchase was keenly contested
THERE wasn’t a spare seat in the room at the Woodlands for the auction of a 20.1 acre residential holding at Curraghchase, Askeaton.
The property was offered for sale by Richard Ryan, of GVM Auctioneers in Kilmallock, in three lots but it ultimately sold under the hammer in two lots.
After the opening round of offering, lot 1 – containing a well presented 1970s four-bedroom bungalow together with compact farmyard standing on 8.6 acres and yard, reached €540,000 after opening at €450,000.
Lot 2, comprising the remaining 11.5 acres of excellent quality roadside lands, reached €280,000 following competitive bidding between an in-house bidder and an online bidder.
No purchaser was prepared to exceed the combined total of the bids for lots 1 and 2 in order to secure lot 3, which comprised the entire holding.
On returning from a recess, Mr Ryan declared that he had received instructions to place lots 1 and 2 on the market.
The same two in-house bidders fought it out for lot 1 with Mr Ryan (pictured below) dropping his gavel at €555,000.
It is understood the winning bid was by a local couple who intend making it their permanent home.
Lot 2 was a similar battle with two bidders - one in-house and one online - with the gavel coming down at €300,000.00 to the in-house bidder. It is believed it was bought by another couple from the general area. John Molyneaux, of PG McMahon Solicitors, represented the vendors.
After the auction, Mr Ryan said the result reflected the strong demand for quality residential holdings in the Curraghchase area.
"This was a cracking property in a highly sought-after location. Although there were only two active bidders on each lot, a number of other parties had registered to bid, particularly for the entire holding. However, once the bidding reached those levels, it simply went beyond what they were prepared to spend.”