O’Donnellan & Joyce goes from Mary Street to Wall Street

Wall Street traders in New York viewing Friday’s O’Donnellan & Joyce auction online.

Wall Street traders in New York viewing Friday’s O’Donnellan & Joyce auction online.

O’Donnellan & Joyce placed 18 properties up for auction which were streamed live on the internet on Friday by local multimedia production company Solid Media in conjunction with the Galway Advertiser. The auction attracted more than 3,000 people who logged on from abroad as they watched enthralled by the live auction and the tremendous value on offer. According to auctioneer Colm O’Donnellan 18 properties were placed up for auction with 14 selling in the room and the remaining four under active negotiation, and the company is confident that all 18 will be sold, such is the tremendous interest in the auction.

The auction was viewed throughout the world from New York to Sydney and people watched a packed auction room with 300 people jammed into the Harbour Hotel, where there was standing room only for those trying to secure a property.

The first property that went for auction was No 70 Forster Court, Forster Street, Galway, a four bedroom semidetached residence situated just off College Road, offering a perfect family home or residential investment. Bidding commenced at €160,000 and within five minutes bids came from all over the room, until eventually it sold at €209,000 to tremendous applause.

The second property that went for auction was No 2 Lisheenageesha, Headford, a detached residence situated on a half acre site located approximately three miles from Headford. Described by the auctioneers as rural tranquillity, the property attracted five interested parties. Bidding commenced at €60,000 and increased rapidly in increments of €2,000. Eventually it was sold at €128,000 to a delighted purchaser.

The third property to be auctioned was a detached residence located at Lisnagree, Caltra, Ballinasloe. The property came with an additional 0.5 acre site with a raft foundation. Bidding commenced at €70,000 and was chased by four individuals, and the property was sold at €87,000.

The fourth property to be auctioned was No 225 Lurgan Park, Renmore, Galway. Bidding commenced at €130,000 and increased to €144,000, however, as it had not reached the reserve price, it was withdrawn from the auction, but has received an offer of €150,000 subsequent to the auction.

The next property was No 18 Bridgewater Court, Dominick Street, Galway, a two bedroom apartment located in the heart of Galway city. This property required a certain amount of refurbishment and modernisation. Four individuals chased the property with bidding starting at €70,000 and it increased rapidly to €82,000 where the auctioneer’s hammer fell.

The sixth property to be auctioned was No 16 Arbutus Avenue, Renmore, Galway, a three bedroom traditional semi built by McInerney Construction in the 1960s. This is an area which the auctioneers regarded as one of Galway’s most sought after and most desirable locations due to the fact that it offers exceptional facilities, all within walking distance of the house. Bidding commenced at €140,000 and rapidly reached the reserve price of €150,000; the house was placed on the market and three individuals bid intensely. Just when it looked like it was being sold for €180,000, a fresh bidder entered the fray and the bids increased to €192,000, at which it was sold to a very happy purchaser.

The next property was No 27 Jardin Drive, Loughrea, a detached four bedroom residence in pristine condition situated in a residential estate in Loughrea town. Bidding commenced at €110,000 and increased rapidly as two individuals interchanged bids in increments of €1,000 until it was sold at €133,000.

The eighth property was No 16 Clifden Glen, Clifden, a holiday cottage located on the outskirts of Clifden village. Auctioneers described the property as being sold at a discount price. Bidding commenced at €40,000 and increased with three individuals bidding before being sold for €55,000.

The next property to be auctioned was a detached residence at Abbeyknockmoy which required total refurbished internally. It was sold for €30,000.

The 10th property was a three bedroom city centre property at No 35 Ashe Road, Shantalla. This mid-terraced family residence is located in one of Galway’s oldest city council estates. Bidding commenced at €90,000 and five individuals chased the property until it was sold at €133,000.

The next property was No 12 Woodlands, a four bedroom semidetached residence, situated in the much acclaimed residential development of Lackagh, and approximately 12 miles from Galway city centre. It was sold for €146,000 to a delighted first time buyer.

The next property was a three bedroom mid-terrace residence at No 35 Coogan Park, Newcastle, Galway. The property is in excellent condition, situated within a city council estate. Bids increased in a frenzy of activity and it was eventually sold at €115,000 to an enthralled auction room.

The 13th property was No 101 Gort na Coiribe, Headford Road, Galway. This was a managed apartment and let to students in NUIG, described by the agents as a gilt edged residential investment better than money in the bank. Four individuals bid intensely for the property until it was sold at €123,000.

The next property was No 78A Hawthorn Place, Knocknacarra, a four bedroom semidetached residence overlooking a large green area and extremely private to the rear. Two bidders chased the property until it reached €170,000. As it failed to reach the reserve price it was withdrawn from the auction and it is now under active negotiation.

The 15th property was No 125 River Oaks, a four bedroom semidetached residence in the heart of Claregalway. The property was withdrawn at €126,000 and is currently available.

The next property was a three bedroom terraced residence at No 26 An Logan, Western Distributor Road, Galway. The property was in excellent condition and located just off the Western Distributor Road, three miles from the city centre. Bidding commenced at €90,000 and arrived at €103,000. Subsequent to the auction a bid was received of €113,000 and it is under final negotiation.

The 17th property was Nos 19 and 19A River Village, Athlone. This comprised an investment property with commercial unit on the ground floor with an apartment overhead and was sold for €80,000.

The final property to be auctioned was 4.11 acres of land on the Tuam Road, Castlegar, on the outskirts of Galway city. The property attracted two very interested parties and bidding commenced at €50,000 and increased rapidly over a period of five minutes, until the auctioneer’s hammer fell at €106,000.

Colm O’Donnellan of O’Donnellan & Joyce auctioneers was delighted with the incredible response and the enormous level of activity and sales that were conducted during the day. The streaming of the auction brought O’Donnellan & Joyce auctions to a worldwide audience.

The next auction date is May 3 2013.

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