Land in Monaghan goes under the hammer in the heart of Limerick city
GVM's Tom Crosse says that distance is now no object with virtual auctions now very much part of the auctioneering profession
IT’S 177 miles from Glentworth Street to Iterera, Scotstown, Monaghan but that didn’t stop GVM Tom’s Crosse from selling 12 acres of land in the Oriel County while being in the heart of Limerick city.
Covid changed a lot in our lives and certainly in how farmers purchase land. Practically every physical auction these days has an online option so you can as easily buy land in Bruree while on holiday in Barbados as you can by giving an auctioneer a nod in a packed room.
One recent example is Tom Crosse, property director at GVM Auctioneers, selling 12 acres in County Monaghan from his Limerick office.
Mr Crosse said it is most unusual given the distance between him holding a gavel and the property - three-and-a-half hours in a car.
However, Mr Crosse says that distance is now no object with virtual auctions now very much part of the auctioneering profession.
Bidding opened at a very strong €150,000 with the gavel falling at the very strong price of €265,000, representing €22,000 per acre.
There is possible site potential subject to planning on the roadside holding. There is also a derelict residence which should qualify for refurbishment grants.