95-acre Clare farm fetches in excess of AMV post-auction
The holding was at Ballycannon West, adjacent to the village of Meelick, just north of Limerick City. It was a joint sale along with GVM and Naas-based O'Neill & Co Chartered Surveyors and Auctioneers.
Although predominantly in pasture, the lands contained around 10 acres of mature woodland and had been let for several years. The farm represented a good opportunity for someone to improve to its full potential and also featured a derelict house with a traditional enclosed farmyard.
The property was a hybrid auction, with bids from the floor and online (via the LSL auctions platform), with a good attendance present at GVM's offices, according to O'Neill & Co's Darac O'Neill.
'Bidding reached €625,000,' said Mr O'Neill, 'before the property was withdrawn."
"Following negotiations with the highest bidder, the property was sold shortly afterwards for a figure well in excess of its advised minimum value (AMV).
"The buyer is understood to be a Cork-based businessman.'
Commenting afterwards, Mr O'Neill added: 'We were very pleased with the level of interest in this sale and a very successful result, well above the AMV.
"It's a great outcome for our client and demonstrates the depth of the market for land of this scale and location.'
The sale was conducted jointly by O'Neill & Co and GVM Auctioneers.
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