Limerick land continues to command good prices
Published November 6th, 2007
The roadside holding at Rathmale, Mungret, Co Limerick was sold at auction for €530,000 or €53,000/ac.
Five interested parties bid against each other pushing the price to this record level.
The sale was handled by joint selling agents GVM Auctioneers, Limerick, and DeCourcy Auctioneers.
The auction was conducted by Tom Crosse of GVM.
Bidding opened at €300,000 and, 20 bids later, the property was formally placed on the market at €500,000.
After that it rose in increments of €5,000, until Mr Crosse’s hammer fell at €530,000.
Commenting on this extraordinary result, Mr Crosse said: “€53,000/ac is an exceptional price. However, the proximity of the land to the city does enhance its overall value.”
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