Over €1m residential Limerick farm on the market
Prime farmland with 84 acres to be sold
AN 84 acre residential farm in the heart of Golden Vale has only come on the market but already is attracting interest from within and outside the county, reports auctioneer Pat Dooley.
The land and three-bedroom bungalow is located at Gortboy, Caherelly, Grange. Mr Dooley, of REA Dooley Group, said it is top quality grazing ground laid out in easily managed divisions. The farm has a passageway running through it for easy access, is well-fenced and has water access to all divisions.
The outbuildings include a three column hay barn with cubicle shed lean-to, holding yard and pen, and other older buildings.
The main dwelling consists of a 1970s three bedroom bungalow which is currently occupied. The house is serviced by oil fired central heating, private water, and has had insulation upgrade carried out.
There is also the ruin of a dwelling on the farm which may give opportunity to redevelopment of a second property, subject to planning.
Mr Dooley is guiding at €1.2m for the “entire” and reports strong interest thus far.
“It is a fantastic farm, top quality land. There is plenty of early interest locally and outside of the area as well.
“Parcels like this one don't come up too often. You're surrounded by real strong agricultural hinterland - excellent dairy farmers,” said Mr Dooley.
In REA’s recent review of local land sales in 2023, Mr Dooley said good quality grazing land was making €15,000 per acre.
“Parcels mostly ranged in size from 30 acre to 70 acre and the majority of sales were probate. Buyers included dairy farmers and investors looking at the viability of long term leasing,” said Mr Dooley.
Six months into 2024, he said prices will be at least the same as 2023 despite a rough start to the year for farmers due to the wet and cold weather.
“We've had a very late start to the summer. Cattle have only gone out in the last four weeks or so. Normally you'd have cattle out in March. I would imagine value of land is still the same,” said Mr Dooley.
But as any auctioneer will tell you, if a couple of big dairy men want a particular farm for sale, then prices can skyrocket.
Regarding the leasing of land, Mr Dooley said there is a high demand and low supply in the leasing market. He doesn’t foresee as much ground coming up with the introduction of long term leasing. Good rental ground in the Limerick area is making 350/ac and up to €400/ac for ground with good infrastructure.
Returning to the sale of the 84 acre residential farm in Gortboy, Caherelly, Grange, contact REA Dooley for more information.