Bidding war: Limerick dairy farm sells for close to €3m
A LIMERICK dairy farm has changed hands for close to €3m - making it the biggest agricultural sale in the county in recent years.
A deal for 148 acres, milking parlour, extensive buildings and two storey house at Breska, Clarina, was struck in recent weeks. The sale is the talk of the locality with local sources saying the figure achieved is in the region of €2.9m.
The highest bidder, in a fiercely contested contest, is understood to be a West Limerick-based businessman. He beat off competition from dairy farmers and business interests.
When contacted by the Limerick Leader, GVM Group Property Director Tom Crosse refused to comment on the particulars of the sale.
All he would say is: “I can confirm a deal has been done. All parties are very satisfied.”
When the farm was first advertised in January, Mr Crosse said at the time that it was the “best dairy farm to come on the market for years in Limerick”.
“This holding is renowned locally as a top class dairy farm. It is an ideal opportunity to acquire a self contained and very sustainable ‘ready to go’ dairy unit situated just 15 minutes drive south of Limerick city in a very affluent locality made up of sizable agricultural holdings and very good quality ‘one off’ housing,” said Mr Crosse.
He was guiding around the €2m mark for the Clarina holding. However, it achieved close to a million more such was the interest. It works out at around €19,500 per acre.
The highly respected current owners are retiring from farming and understood to be moving to Kerry. While there was interest from the Kingdom, Breska will remain in Limerick hands.
Due to the price achieved in Clarina and dairy markets “surging”, it will be interesting to see if more dairy farmers put their enterprises up for sale in coming months and “get out” while the going is good.