SOLD! Clare farm sells for 'well in excess' of advised minimum value at public auction
The 95 acres, at Ballycannon West, Meelick, were offered for sale by public auction last month
The successful sale of agricultural lands at Ballycannon West, Meelick in south east Clare has been confirmed by joint agents - O’Neill & Co and GVM Auctioneers.
The 95 acres were offered for sale by public auction on June 17 with bidding facilitated both in-person and online at GVM’s auction rooms in Glenworth Street, Limerick city, with a good attendance present.
Bidding reached €625,000 before the property was withdrawn.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.
Darac O’Neill, of O’Neill & Co, said: "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.”
Comprising predominantly permanent pasture, this substantial farm includes approximately 10 acres of mature woodland. The land, which has been rented for several years, would benefit from improvement works to reach its full potential.
The property includes a traditional farmyard along with the original farmhouse residence, which is in need of complete refurbishment providing an ideal project for restoration enthusiasts or developers.
Located on the edge of Meelick village, this farm presented a unique opportunity for a range of uses, including beef or dairy farming, equestrian pursuits, or as a hobby farm.
Given its strategic location and long-term development prospects, it also represented a strong investment opportunity.