O’Donnellan & Joyce held one of the biggest house auctions ever held by any private auctioneering company last Friday in the Victoria Hotel when 10 properties were placed up for sale by public auction.
In a packed auction room with close to 300 people in attendance, bidding was intense, fast, and furious.
The first property to be placed up for auction was No 29 St Nicholas’ Terrace, Claddagh (executor sale ). The property, a two bedroom mid-terraced townhouse, was a total fixer upper with complete refurbishment required. Bidding commenced at €150,000 and increased in bids of €1,000, and with bids coming from all sides of the room with 10 individuals chasing the property it was eventually sold by auctioneer Colm O’Donnellan who dropped the hammer at €185,000 to a huge applause for the purchaser.
The second property to be offered for sale was a three bedroom end of terrace at No 1 South Park Terrace, Claddagh, which overlooks Galway Bay and is in need of refurbishment. Bidding commenced at €220,000 and increased in increments of €2,000 and reached €240,000. Two young couples bid intensely for the property until finally the auctioneer’s hammer fell at €259,000 to the obvious delight of the young couple.
The third property to be auctioned was Ard Aoibhinn, St Bridget’s, Prospect Hill (executor sale ). The property, a four bedroom detached residence, was in need of total modernisation and upgrading. Bidding commenced at €130,000 and increased in increments of €2,000 with five individuals chasing the property until eventually it was sold at €170,000.
The fourth property to be auctioned was No 29 Fairhill Road, Claddagh (executor sale ), a three bedroom mid-terrace residence with a certain amount of modernisation carried out by its owners. Bidding commenced at €200,000 and was chased by three individuals until it was eventually purchased for €244,000 by a delighted woman who had her solicitor, Robert Meehan of Blake & Kenny, bidding on her behalf.
The fifth property to be placed up for sale by public auction was No 8 Walsh Terrace, Woodquay (executor sale ), a six bedroom residence located in the heart of the city which was in need of total modernisation and refurbishment. Bidding commenced at €240,000 and was chased by two individuals until it was eventually reached €290,000. The property was withdrawn by auctioneer Colm O’Donnellan and was sold immediately afterwards for a higher figure.
The next property to be offered was No 44 Grattan Park, Salthill (executor sale ), a four bedroom detached residence located just off Salthill Promenade. Bidding commenced at €320,000 and rapidly reached €350,000 where, after consultation with the clients, the property was placed on the market and sold at €350,000.
The seventh property to be sold was No 36 Upper Newcastle Road (executor sale ), a three bungalow in Newcastle in need of modernisation with a large site to the rear. Bidding commenced at €280,000 and rapidly went to €305,000, where it was immediately sold.
The properties which failed to sell on the day were No 17 Newcastle Road, a three bed mid-terrace residence, AMV €350,000; No 2 Canal Court, a two bedroom semidetached overlooking the canal, AMV €380,000; and Dunsinane, Corcullen, a four bedroom home on 0.9 acre, AMV €450,000. All three properties have active bidders and interest and are under active negotiation.
Colm O’Donnellan of O’Donnellan & Joyce said the company was absolutely thrilled with the tremendous response and exceptional sales on the day. The vast crowd that attended proved that there is definitely a market for well located property at realistic values.
For further details on the next property auction contact O’Donnellan & Joyce (091 ) 564212. No 29 St Nicholas’ Road.