01-07-2025
95-acre Clare farm fetches in excess of AMV post-auction
A 95-acre farm in Co Clare sold well on June 17, even though it failed sell at a public auction at GVM's auction rooms at their Limerick City offices on Glantworth St.
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'Bidding reached €625,000,' said Mr O'Neill, 'before the property was withdrawn."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.
