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03/08/2021

Bid to resume land auctions - gavel to be dusted off as 17 acres in County Limerick comes to market

Bid to resume land auctions - Gavel to be dusted off as 17 acres in County Limerick comes to market

The auction is due to take place next Friday

AUCTIONEER Tom Crosse will have a gavel in his hand next week for the first time since Covid hit.

The group property director of GVM is bringing to the market a 17.56 acre field in Ballinagarde, Ballyneety in lot 1; a bungalow on 0.75 acres in lot 2; and lot 3 is the “entire”.

Mr Crosse is guiding the “truly outstanding elevated field with extensive road frontage to two roads” at €250,000 or around the €14,000 an acre mark.

“It is top quality land ideal for grazing, meadowing, hobby, beef or equestrian use. There is extensive road frontage with possible site potential subject to planning. Numerous quality detached houses have been constructed in this locality in recent years,” said Mr Crosse.

The house is being guided at €200,000.

“It is a split level bungalow. While it needs a lot of work it is quite nice and is standing on a lovely elevated site. It is a special bit of property in a quality location,” said Mr Crosse.

There has been “very strong interest” in the land and house to date. Together, the auctioneer would be hoping to hit between €450,000 and €500,000.

“I think we will have sufficient interest on the day to get them over the line. There is a blend of farming and business interest,” said Mr Crosse.

The auction is due to take place at 3pm on Friday, June 11. All bidders must pre register with the GVM office in advance of the sale and to get full details.

The prospective new owners aren’t the only ones looking forward to the date.

“I have missed auctions. There is no substitute for a physical presence and people being in front of you. You can read clients better.

"Bidders are also more comfortable to be physically at an auction as well - they can see the competing bidders and it is more real. Online auctions are fine but most people, particularly with land, are much happier to buy in a physical auction,” said Mr Crosse.

After he dusts the cobwebs off his gavel he hopes to bring it crashing down next week.

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