Hotly contested auction for prime parcel of land on outskirts of Limerick city
THE VERY lively land auction season in County Limerick continues unabated with the auction of 49 acres at Killonan, Monaleen.
Tom Crosse, of GVM, was the man with the gavel for this attractive roadside holding which is located on the periphery of the affluent suburb of Monaleen / Castletroy. There is an extensive range of stabling, a hay barn and ancillary sheds but no residence or single farm payment.
“This holding, while ideal currently for agricultural use, must have long term potential for numerous uses given proximity to the expanding Castletroy / Monaleen / Annacotty areas,” said Mr Crosse.
The land has frontage to three roads and, subject to planning, very valuable site potential.
Mr Crosse, who lives in the area, didn’t have to put on the hard sell regarding the strong location, as bidding opened at €600,000 for the 49 acres.
There were at least four participants who pushed the sale price to €1,410,000 or €28,775 per acre before the gavel finally hit the table. It is understood it was bought in trust for a client.
This is the second such GVM land sale in recent weeks when this type of price per acre was achieved following on from the sale of 47 acres at Ballykilty, Quin which made €1,350,000.
GVM Limerick have 40 acres at Willowbrook, Mountshannon, Lisnagry up for auction this Thursday, November 9 at 3pm in their Glentworth Street auction rooms. The sale guide is €1.5m.