Double delight for GVM with two farms exceeding €1m at September auctions
Tinakilla, Auction Acres 57 At At Sold Lot 2 Where
As a reflection of how well land prices are going generally, GVM Auctioneers in Limerick have had a fruitful few weeks recently. For the second consecutive week, they have successfully auctioned a holding in the Limerick area for a price exceeding €1,000,000.
Tom Crosse was the man yielding the gavel in both cases. The 74-acre Hurdlestown House in Broadford, County Clare, went for a sum of €1,120,000 at the GVM Auction Rooms in the first week of September.
On September 12, it was the turn of another farm that was sold in lots. Located at Clashganniff, Shanagolden and Tinakilla, Ballyhahill respectively, the farm extended to 80 acres in all, with 23 acres in Lot 1 and 57 acres in Lot 2.
Lot 1 was the most keenly contested. Tom Crosse described the property as top-quality arable land. The bidding kicked off at a high level of €400,000 (€17,400/acre). After ten increments, the gavel fell at €510,000, or €22,100/acre.
The price trajectory of Lot 2 in Tinakilla wasn’t quite as impressive, but it got there in the end. The bidding began at €400,000 (€7,000/acre) and continued up to €500,000 (€8,800/acre). At that point, the property was withdrawn from the public auction. Following some post-auction discussion, a deal was concluded on the day for a higher undisclosed figure.
