Auc­tion date in March for 25 acres near Rathkeale

Irish Examiner - Farming - - PROPERTY - Conor Power

With an auc­tion date set for Thurs­day, March 16, there will be an in­ter­est­ing build-up to the sale of a 25-acre hold­ing near Rathkeale, Co Lim­er­ick, that should en­sure a pos­i­tive re­sult.

Such a size of a farm will be in­clined to suit a num­ber of di f fe re n t pa r tie s , of wh i ch t h e r e ar e m a n y r e p r e s en - tatives close by; from those look­ing to ex­tend their holdin g s to th ose lo oki ng for a sm al l st ar t in t h e f ar mi ng scene. It’s the kind of prop­erty that might also prompt a longterm in­vestor (as is of­ten the case with smaller hold­ings) look­ing to get a good per­cent­age on his or her in­vest­ment through the bur­geon­ing leas­ing mar­ket.

The prop­erty is in the town­land of Graigue, 2km south of the vil­lage of Rathkeale. The vil­lage — a fa­mous hotspot of ac­tiv­ity dur­ing the War of In­de­pen­dence — is a lively one, with shops, pubs, banks and var­i­ous other re­tail out­lets, as well as a crèche and pri­mary and se­condary schools. Lim­er­ick City is 30km to the north­east, while the im­porta n t ma rk e t t o wn s o f Ne wc as tl e We s t , A s ke at o n an d Adare are all ap­prox­i­mately 13km from this farm. Ac­cord­ing to sell­ing agent Tom Crosse of Lim­er­ick-based GVM Auc­tion­eers ( at whose p re m i s e s o n G l e n t wo r t h Street the auc­tion is be­ing held), it is early in the chase y e t , bu t t h e re ha s a l re ad y been a good de­gree of in­ter­est build­ing up for this hold­ing. In­spec­tion, he says, is highly rec­om­mended for this “truly s u p e r b r o ad s i d e p ar c e l of land” as it is de­scribed in the brochure. “There’s been good in­ter­est in it so far,” says Tom. “It’s a nice bit of ground and close to Rathkeale. The land qual­ity would be quite good, in the main, and there’s good road frontage with it.”

The public road runs along its west­ern bound­ary, al­low­ing for mul­ti­ple ac­cess points to the land, which is laid out in four di­vi­sions. Ac­cord­ing to the ag ents, there is a mains water sup­ply to the prop­erty and it’s “rea­son­ably well fenced”. There are no en­ti­tle­ments go­ing with the prop­erty, but it does ben­e­fit from the ex­is­tence of a cou­ple of old out­build­ings, that may of use for s o m e s t o r a g e b y th e n e x t owner and which can be re­fur­bished if needs be.

This is a very strong dairy­ing area, where there is also a mix­ture of some tillage, dry cat­tle, and equine in­ter­ests. In­deed, for any­one from the horse-breed­ing fra­ter­nity who is in­ter­ested in such a hold­ing, s o m e o r ga n i sa t i on w i l l be re­quired, be­cause the auc­tion date is in the mid­dle of the Chel­tenham week.

“T h e a r ea a ro u n d R a t hke a l e w o u l d b e v e r y w e l l known for many years as havi n g go od l a n d , ” sa y s To m . “There’s good deep soil there, and this is the case with this farm.”

The price guide be­ing quoted by the ag ents is € 200,000. At € 8,000 per acre, this seems like a very con­ser­va­tive es­ti­mate for land in an area where one can ex­pect to pay more like €12,000/acre for good grass­land. “I would be guid­ing it quite con­serva t i ve l y , ” t h e a u c t i o n e e r ad­mits, “and I’d be hop­ing that it will make more than that on the day.”

As for who is go­ing to buy it, Tom says that it is early days y e t , bu t h e wo u l d s e e t h e dairy­ing sec­tor as be­ing the most likely area of ac­tiv­ity to pro­duce a buyer for the land: “Mainly, the pro­file of the most ac­tive buyer th­ese days is the dairy farmer look­ing for some­where to ex­tend into… maybe for fol­low­ing heifers or look­ing to get a bit of meadow, an out­side hold­ing, ba­si­cally. “But this par­tic­u­lar prop­ert y m i gh t a l s o su i t a h ob by farmer that would be look­ing t o h a ve a s e t - u p wh e r e h e could keep some an­i­mals and per­haps build a house and ad­di­tional out­build­ings. “It’s a nice com­pact hold­ing, and it’s nice and cen­trally lo­cated and near the fa­cil­i­ties of the vil­lage.”

This 25-acre road­side hold­ing is for sale near Rathkeale, Co Lim­er­ick. The price guide is €200,000.

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