80-acre Limerick farm guiding €12k an acre at auction
West, Dairying Of Rathkeale 13km Country, The From The And 19km 16km Charleville From Heart Is Vibrant Located From Newcastle Farm In
Coming up for auction on Friday, November 15, is an 80-acre farm at Castletown, near Kilmallock, Co Limerick.
The property is being auctioned by GVM Auctioneers at its Limerick City auction rooms on Glentworth Street, as well as a simultaneous online auction via the lslauctions.com platform.
The farm is located on the outskirts of the village of Castletown and should attract a good deal of attention for its size and location.
“It’s a very fine farm — 95% of it is top-class land," says selling agent Tom Crosse. "There’s a bungalow on the farm as well and a number of ancillary outbuildings.”
Old but in habitable condition, accommodation in the bungalow includes an entrance hall, kitchen, dining room, bathroom and three bedrooms.
Located in the heart of vibrant dairying country, 19km from Newcastle West, 16km from Rathkeale and 13km from Charleville, the farm’s quantity and quality should be a strong draw, with a reasonable guide price of €1m (€12,000/acre) — particularly considering the house on the property is close to a village and in a rentable condition.
“There’s been a good level of enquiries so far,” says Mr Crosse. “We’d be expecting it to go well.”
In spite of its proximity to the village, Mr Crosse does not expect this to be a factor in the farm’s potential for further development.
“It’s very rural, and I don’t see it as being a village that would be developed in the medium or short-term… maybe a consideration for the next generation,” he says.
The property does come with a single-farm payment of about €7,000 a year, which will render the farm even more attractive.
The hybrid auction (both live and online) works very well where it is applied and has been successfully done by GVM on a number of occasions — so much so that it has become its standard modus operandi on auction day.
According to Mr Crosse, the in-house/online split of bidders is about 50/50, but with the end buyer usually being present in the room.
