Billed as the biggest property auction ever held outside Dublin, O’Donnellan & Joyce’s all-day property auction certainly lived up to its title last week with €9m worth of property sales generated at the end of an intensive day of bidding in a packed Harbour Hotel. The auction also saw a visible increase in phone bidding with two overseas buyers fiercely competing for much sought after Galway city properties.
Registration opened at 9.30am for part one of the day’s proceedings, which featured a combination of commercial properties, investment properties, and land sales. From the outset bidding was fast and furious with the first lot of the day, Glendoo Apartments on Sea Road close to Galway city centre, achieving more than twice the AMV at €310,000. Bidding was very brisk on an industrial unit on the Breaffy Road in Castlebar which also reached twice its AMV price at €470,000. There was intensive bidding for land in Ballyconneely, the first lot of 20 acres in the scenic location of Emlagharon, Ballyconneely, selling for €146,000, having guided at an AMV of €50,000. Phone bidding was intense for 51 acres of land featuring a partially built house at Derrygimlagh, Ballyconneely, which eventually sold for €259,000. A Galway city centre retail property just off Shop Street reached €500,000.
From noon time a steady queue of eager buyers lined up to register for the afternoon’s auction, which was dedicated to residential properties. The atmosphere was intense but full of excitement as keen property hunters filled the auction room to capacity while others were forced to take standing space in the lobby of the Harbour Hotel, viewing the live action on big screens across the lobby.
Galway auctioneer Colm O’Donnellan got the afternoon’s proceedings off to a thrilling start as bidders intensely fought to get their hands on No 53 Grattan Park, Salthill, which had an AMV of €200,000, and the hammer eventually fell at €355,000. This energy set the tone for the afternoon as bidding continued to be fiercely intensive. The two highlights of the afternoon were a two bedroom apartment with sea views of Galway Bay at No 6 Dún na Carraige, Salthill, which saw a telephone bidding war between two overseas clients with the hammer eventually falling at €492,000, almost double its AMV of €250,000; and a semidetached residence within walking distance of the city centre on College Road which reached a final sale price of €365,000 from an AMV of €210,000.
Two stunning family residences situated in Galway’s most prestigious address, Taylor’s Hill, each saw strong and competitive bidding, with No 12 Ard na Coille reaching €670,000 from an AMV of €550,000, and No 9 Averard West, a five bedroom family home, also achieving an exceptional price of €720,000 from an AMV of €675.000
“The atmosphere in the room was electric and competitive, with phases of very spirited and intense bidding for certain properties,” Colm O’Donnellan said after the auction. “We certainly witnessed an increased confidence in Galway’s property market which further highlights the shortage of quality family homes in desirable locations across Galway city, and people’s continued appetite and hunger for property.”
The results of Friday’s morning auction are as follows:
Lot 1, Glendoo Apartments, Sea Road, sold €310,000; Lot 2, Murphy’s Bar (previous licensed premises), Oughterard sold €140,000; Lot 3, No 17 Dock Road, sold €245,000; Lot 4, No 62 Prospect Hill, sold €207,500; Lot 5, 20 acres in Emlagharon, Ballyconneely, sold €146,000; Lot 6, 52 acres in Derrygimlagh, Ballyconneely, sold €259,000; Lot 7, industrial unit, Breaffy Road, Castlebar, Co Mayo, sold €470,000; Lot 8, No 8 Lower Abbeygate Street, sold €500,000; Lot 9, No 26 Glenrock Industrial Estate, Ballybane, sold €180,000; Lot 10, No 3 Kilkerrin Park, Liosbaun Industrial Estate, sold €106,000; Lot 11, Nos 5 and 6 Kilkerrin Park, Liosbaun Industrial Estate, withdrawn; Lot 12, Unit 12 Oranmore Business Park, Oranmore, withdrawn; Lot 13, Unit 13/4C Oranmore Business Park, withdrawn; Lot 14, land in Glenowan, Clifden, sold €60,000; Lot 15, No 14 Auburn Way, Cluain Ri, Athlone Road, Ballymahon, sold €47,000; Lot 16, No 16 Auburn Way, Cluain Ri, Athlone Road, Ballymahon, sold €59,000; Lot 17, No 27 Riverside Apartments, Castlerea, Co Roscommon, sold €16,000; Lot 18, Unit 13 MG Business Park, Tuam, sold €50,000; Lot 19, c2 acres and three unfinished houses in Garrafrauns, sold €50,000; Lot 20, six detached sites, Cluain Ri, Athlone Road, Ballymahon, sold €16,000.
The results of Friday’s afternoon auction are as follows:
Lot 1, No 53 Grattan Park, Salthill, sold €355,000; Lot 2, No 112 College Road, sold €365,000; Lot 3, No 53 Dun Na Mara Drive, Renmore, sold €175,000; Lot 4, No 41 Murrough Avenue, Renmore, sold €217,000; Lot 5, No 8 The Village, Wellpark, sold €185,000; Lot 6, No 5 Snipe Lawn, Newcastle, withdrawn at €295,000; Lot 7, No 16 Ceannt Avenue, Mervue, sold €154,000; Lot 8, No 12 Ard Na Coille, Maunsells Road, sold €670,000; Lot 9, No 14 Crescent View, Riverside, Tuam Road, sold €200,000; Lot 10, St Senan’s, No 34 College Road, sold €450,000; Lot 11, Gort Nua, Letteragh Road, sold €330,000; Lot 12, No 9 Averard West, Taylor’s Hill, sold €720,000; Lot 13, No 6 Dun Na Carraige, Salthill, sold €492,000; Lot 14, No 41 Rockbarton Park, Salthill, sold €375,000; Lot 15, No 13 Barr na Carraige, Fort Lorenzo, sold €312,000; Lot 16, No 7 Tubberjarlath, Tuam, sold €24,000; Lot 17, No 13 Rusheen Woods, Knocknacarra, sold €240,000; Lot 18, Luimneach, Corrandulla, sold €395,000; Lot 19, Baile Liam, Spiddal, sold €280,000; Lot 20, No 2 Fuchsia Lane, Roundstone, withdrawn at €130,000; Lot 21, No 12 Leitir Burca, Ballymoneen Road, withdrawn at €300,000; Lot 22, No 23 Rahylin Glebe, Ballybane, withdrawn at €95,000; Lot 23, No 183 Laurel Park, Newcastle, sold €129,000.
O’Donnellan & Joyce auctioneers is a market leader for residential and commercial auctions in Galway city and county and throughout the entire Connacht region, and based on last week’s phenomenal sales achieved Colm O’Donnellan said he was very excited about the company’s scheduled auction on June 27 in the Harbour Hotel, Galway.
O’Donnellan & Joyce is inviting anyone interested in selling property to speak with the auction team now to ensure the property is registered ahead of this now much anticipated property auction.
For further information or to enter a property into the next auction on June 27, contact the O’Donnellan & Joyce auction team on 091 546212.