Thursday 22 May 2014
SUCCESSFUL AUCTION OF C. 49 ACRE FARM AT GORTNAGERAGH, DOON, CO. LIMERICK.
REA JOHN LEE SOLD THIS RESIDENTIAL HOLDING UNDER THE HAMMER FOR €290,000.
The property is best described as upland agricultural land with a right of way running through the middle of it and some very high land in most parts. It is part bisected by the public road with heavy rushy land below the road. There is a uninhabitable derelict residence in the centre of the property.
Bidding opened at €120,000 and continued in €10,000 increments with two bidders to €210,000. From this it proceeded in €5,000 bids to €235,000. The vendors were consulted and further offers were sought. With further bidding it proceeded to €260,000 at which point it was declared on the market. The hammer eventually fell at €290,000 to a neighbouring person who is not a full time farmer. In all there were two bidders with a number of onlookers.
This was seen as an exceptional price as the initial guide was €240,000 - €250,000