New to the market is what is billed as circa 45ac of prime agricultural land at Woodstown, Lisnagry, Co. Limerick. It has been put up for sale as the owner is trading up for more land.

Describing the Lisnagry land as an “outstanding” and “very valuable” holding, selling agent Tom Crosse of GVM Auctioneers said it is laid out in one division, enjoying “superb” soil and land quality.

“This land is located just 10 minutes’ drive from Limerick city, close to the Mick Mackey roundabout and also in very close proximity to Annacotty Business Park,” he said.

“There is very easy access to the nearby M7 motorway linking Limerick to Dublin, University of Limerick (UL) and Plassey Technological Park.

“This holding provides a wonderful opportunity for all types of farming use including beef, equestrian or dairying.

“The very strong location so close to the city also provides a great opportunity for hobby farmers or those wishing to invest in a tried and trusted asset class,” the agent added.

“There is interest from the business community because of the proximity to the city. It also has excellent rental potential,” he said.

Lisnagry

Adjoining the Mulcair River from the rear, the land is well fenced with a quiet cul de sac access point.

The guide price for the Lisnagry land, which is for sale by private treaty, is €550,000.

Limerick land

In the Institute of Professional Auctioneers and Valuers (IPAV) farming report, published in January, Tom, who is group property director at GVM Auctioneers in Limerick, said he saw a significant increase in the supply of land coming to the market in the Limerick area in 2022.

He expressed the belief that the strong start to 2022 encouraged some landowners to go to market earlier than planned. Demand was very strong he said, especially from dairy farmers looking to consolidate their enterprises and comply with herd size and nitrate requirements.

He saw prices increase as much as 20%.

“In excess of €20,000/ac was achieved in a number of large tillage land sales. This included a farm extending to 145ac in Clarina, Co. Limerick, which sold for €2.9million,” he said.

Average prices/ac were in the region of €15,000 said Tom, who remains optimistic that both milk and beef prices will hold up as a result of a general decrease in worldwide production.

“The mood among the farming community is one of positivity,” he said.

“Many astute business people also see land as a safe investment haven in times of potential recession. A good example of this was the resilience land prices showed during the Irish recession 15 years ago.”

Tom told Agriland this week that he expects land values to steady this year.

“Rising interest rates should calm the market although stocking levels and nitrates are really increasing demand big time for land purchase and leasing,” he said.