Auction Success in Limerick: Land Sold for €350,000

In a recent auction, a farm in Pallaskenry, County Limerick, was sold for a total of €350,000, attracting significant interest from local underbidders. The 33-acre holding, characterized as rough grazing land, was sold in two lots, reflecting the ongoing demand for agricultural property in the area.

Strong Market Demand for Land

John O’Connell, an auctioneer with GVM Auctioneers, expressed satisfaction with the final sale price, noting it indicated a thriving market for quality land in County Limerick. He reported that many disappointed underbidders are still actively searching for suitable holdings throughout the region.

O’Connell’s colleague, Tom Crosse, also celebrated a successful auction, having sold a farm in Mount Nagle, Mallow. This transaction occurred just before the All-Ireland final, marking a notable achievement for Crosse. The 38-acre property, described as medium quality land, generated considerable interest, with four bidders participating in an engaging bidding process.

Bidding for Crosse’s property began at €350,000 and increased rapidly, with the final bid reaching €480,000. The auction was characterized as lively, reflecting the competitive nature of the current land market.

Local Professionals Set to Renovate

The new owners of the Mount Nagle property are local professionals, who plan to renovate the existing derelict house on the site. The interest from local farmers and other professionals in these auctions highlights the strong demand for agricultural land in the region.

O’Connell and Crosse’s recent successes illustrate the robust activity in the land market, as buyers continue to seek opportunities in agricultural holdings. The enthusiastic participation in these auctions suggests a positive outlook for future sales in County Limerick and beyond.