'Cracking' County Limerick farm makes close to €13k an acre

A “CRACKING” County Limerick farm made €12,777 per acre at auction.

Auctioneer, Tom Spillane said the “vibes were good” in the run up to the sale of 72 acres at Cloghaviller, Herbertstown. And so it proved as over 50 were in attendance on Friday at the Deebert House Hotel.

Top quality level limestone lands are laid out in seven manageable divisions with derelict stone cut farmhouse and outbuildings. Normally auctions start a little late but everybody was ready to get down to business at 3pm sharp.

“The bidding opened at €600,000 and moved quickly to €720,000 in nine bids. A recess was called to take our client’s instructions and when the auction recommenced the farm was placed on the market. There was 18 further bids and the property was sold under the hammer at €920,000 – €12,777 per acre. It is above the average price per acre for land in this area  but reflects the excellent quality and condition of the land in the heart of the Golden Vale and the huge demand shown for it,” said Mr Spillane.

There was five separate bidders. It is understood the new owner is a local dairy farmer. Speaking after the auction, Mr Spillane said the excellent price matched the “good vibes” in the run-up.

“Sometimes when people ring you up about a farm they will throw in a negative - ‘You are guiding €10,000 an acre but you will be lucky’; ‘It is wet in one corner’; ‘It doesn’t have as much road frontage’. But without fail, everyone that rang could not say anything bad about it. They all said it is a ‘cracking farm’,” said Mr Spillane, who conducted the auction with solicitor Paudie Lynch, of Lynch and Bradley, for the estate. The purchaser was represented by Brendan Gill, of Maurice Power Solicitors, Kilmallock.

Meanwhile, James Lee sold 54 acres at Coolnahilla, Lisnagry last week before the auction after receiving a “very satisfactory” offer close to the guide of €300,000. GVM, REA John Lee and Matthew Ryan & Son all have impressive lands for sale. Please see accompanying adverts.