Nearly 40 acres on outskirts of Limerick city goes under the hammer

FRESH from the auction of 49 acres at Killonan, Monaleen for €1,410,000 GVM’s Tom Crosse was back with the gavel in his hand for a very similar parcel of land in Limerick.

He presided over the auction of 39 acres at Willowbank, Lisnagry, which again attracted huge interest.

This holding consists of 39 acres together with a dormer bungalow located on the periphery of the holding.

The land quality is excellent with two access points together with an independent entrance to the residence.

“The location is excellent, close to the Mick Mackey Roundabout and just 7kms from the city centre. The University of Limerick is close by as is Plassey Technological Park.

“This holding must have long-term potential bearing in mind the imminent arrival of the Northern Ring Road which should open up this entire locality and enhance and accelerate its development potential.

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“It is a tremendous opportunity ideal for those in search of a family home with land, a hobby farmer or an opportunistic investor,” said Mr Crosse.

The blended auction attracted attendees to GVM’s Glentworth Street auction rooms on Thursday, November 9 with bidders also on the LSL online platform.

Bidding opened at €1,000,000 and went up in 12 increments of €50,000 to €1,600,000. The parties retired for negotiations and a deal was completed just 15 minutes later.

Mr Crosse would not reveal the final price, however, local sources suggest a figure in the region of €1,750,000 was achieved.

When you take into account the estimated €500,000 value of the house, the land price for Willowbank, Lisnagry reflects a figure of €32,000 per acre.