18 Aug 2022

Limerick farmland makes close to €15k an acre at auction

Limerick farmland makes close to €15k an acre at auction

30.5 acres at Ballyshane, Crecora sold for €452,000 at auction

LAND in Crecora is always a hot commodity and so it proved at the auction of 30.5 acres at Ballyshane.

John de Courcy was the man with the gavel in his hand at a well-attended auction in the Dunraven Arms on Wednesday, May 25.

Prior to the big day Mr de Courcy reported a lot of interest but when it comes to land it is hard to gauge.

“People can walk it themselves. It is not like showing a house. If I am showing a house I might physically show it to 20 people. With land, the map and photographs and everything are on the internet. Not as many people would ring you as before but there was a lot of interest,” said Mr de Courcy.

He opened at €375,000 for the superb quality lands laid out in a large field with a small field at the rear. 

“It went up in bids of €10,000, €5,000 and €1,000. We put it to the market at €452,000 and it didn’t go any higher when we put it on the market. There were two interested bidders,” said Mr de Courcy, who added that he, as the auctioneer, and the vendor were very satisfied with the price.

It works out at just shy of €15,000 per acre.

“Land has gone up in value. Land is freely making €15,000 / €20,000 an acre and in cases it is making more than that,” said Mr de Courcy.

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