Eighty acre farm at Garrydoolis, Pallasgreen
A LARGE crowd attended at GVM Auctioneers auction room in Kilmallock Mart on Friday for the sale of an 80 acre roadside farm situated at Garrydoolis, Pallasgreen.
A number were on their laptops as well to bid online.
Described by GVM's Richard Ryan as an "outstanding roadside farm situated in the heart of the Golden Vale" the lands are all in permanent pasture and are laid out in easily managed, well sheltered fields and paddocks.
The farm buildings consist of 3 column haybarn with lean-to, silage pit and ancillary out offices. There is a traditional style farmhouse residence which has been unoccupied for several years and in need of complete restoration.
The property was offered for sale in three lots. Lot 1 being 57.5 acres with old farmhouse and farm buildings and situated in County Tipperary. Lot 2 was 22.5 acres situated directly across the public road in County Limerick. Lot 3 was the entire farm.
After each lot was offered, the bids were €610,000 for lot 1; €320,000 for lot 2 and €1,020,000 for the entire.
At this juncture there was a recess to consult with the vendors. On returning after the recess, Mr Ryan stated that he had received clear instructions from the vendors which were to withdraw lots 1 and 2 and put the entire farm lot 3 on the market.
The bidding was fought out in dramatic fashion over the next 15 minutes between an online bidder and an in person bidder. They went toe-to-toe, eventually selling to the online bidder at an impressive €1,215,000 or €15,200 per acre.
Commenting after the auction, Mr Ryan said that he was "very happy with the price achieved and it shows that land values are really on an upward curve with great confidence in land with both farmers and investors alike".
Mr Ryan added that he has a number of disappointed under bidders who are looking for similar type farms.
The vendors were represented by joint solicitors: Peter O’Dea, of O’Connor O’Dea Binchy Solicitors, Charleville and Michael Devlin, Solicitor, Tipperary Town.
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