GVM Auctioneers’ auction room at Kilmallock Mart was “in full swing” on Friday, February 24th, 2023, for the auction of a circa 89 st. acre roadside farm situated at Ballinlyna, Kilfinane, Co. Limerick.
Described by the auctioneers as “an excellent quality grassland farm situated in the heart of the Golden Vale”.
The farm, in the selling agent’s words, Richard Ryan’s words, contains a “considerable” amount of road frontage and is serviced with mains electricity and a well water supply and had a haybarn, old milking parlour, cattle pen & crush thereon.
Post-auction report
The property was offered for sale in three lots;
- 1: C. 62 st. acres, with farm buildings;
- 2: C. 27 st. acres was situated directly across the public road;
- 3: The entire farm.
After each lot was offered, there was no bid for lot 1 and one bid of €200,000.00 for the second lot.
“Things were looking bleak,” the auctioneer commented, before offering lot 3, the entire farm, to the market.
He was met with an opening bid of €900,000, which was followed by a number of further bids to reach €1,150,000 and at this stage, there was a recess to consult with the vendors.
On returning after recess, Mr. Ryan stated that he had received instructions from the vendors to withdraw lots 1 & 2 and put the entire farm lot three on the market.
The bidding was then “fought out” between three on-site bidders, with the hammer eventually falling at €1,395,000.00 to Buttevant-based-auctioneer, William Broderick, who was acting in trust for a client.
The underbidder, according to Ryan, was a north Cork-based solicitor who was also acting in trust for a client.
Speaking following the auction, Ryan remarked:
“I am very happy with the price achieved of approximately €15,675/acre, which shows that land values continue to remain strong.”
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