Richard Ryan of agents GVM Auctioneers, Kilmallock, handled the sale of a 125-acre farm in Moig, Shanagolden, Co Limerick, last Friday. The farm is described by the agent as a truly outstanding residential roadside farm extending to a sizable 125 acres. This farm was sold on the instructions of the representatives of Charlie McCarthy (deceased).

This farm was offered for sale under the hammer in three lots last Friday at a very busy public auction in the Courtenay Lodge Hotel, Newcastle West. The well-known farm comprises top-quality Golden Vale grazing lands in easily managed divisions.

The farm was offered for sale in three lots. The first lot comprised 77 acres and a two-storey derelict residence in need of total refurbishment. The yard and out-offices included a four-column hay-barn, cow house, cattle crush and ancillary out-offices.

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There is a limestone quarry on the 48 acres that comprised lot 2, which may have potential for further quarry use, explains the agent. Lot 3 comprised the entire holding.

Situated on the main Newcastle West to Shanagolden road, the farm is one and a half miles from Shanagolden village, eight miles from Newcastle West and 25 miles from Limerick city.

On the day of the auction the larger parcel (lot 1) of 77 acres and the derelict residence opened at €350,00 and rose in steady increments to €450,00. Lot 2, consisting of the 48 acres with a disused limestone quarry, opened at €300,000 and according to agent Richard Ryan went up swiftly to €525,000. The entire then received a bid of €980,000. This bid was higher than the combination of the two lots. At that stage the agent consulted with his clients and offered both lots again. The 77 acres was then bid from €450,000 to €620,000, with the second lot also improving to €560,000. No higher bid was received for the entire and at that point the 77-acre lot was placed on the market at €620,000 with the hammer falling on this lot at €700,000.

This lot was eventually bought by a local farmer who fought it out with a local solicitor. This amounted to a strong €9,090 an acre.

The second lot was placed on the market at €560,000 and three €5,000 bids later the hammer fell at €575,000, or almost €12,000 an acre. This lot was secured by a solicitor who was buying it in trust for another local farmer, it is believed.

The entire 125-acre farm made €1,275,000, or a very respectable €10,200 an acre.

Richard tells Country Living that there is not a lot of farmland around at the minute but that he has walked a couple of nice farms that may be offered for sale in the new year.