Great results at Colleran’s auction

It was a real case of quality, not quantity, at Colleran auctioneers’ packed auction last week when five properties in the sought after areas of Shantalla, Claddagh, Newcastle, and Salthill were offered for sale.

First to be sold was No 3 Ashe Road, Shantalla, a fabulous three/four bedroom terraced house which had generated huge interest from the first day, resulting in open viewings being extended by half an hour to accommodate the crowds viewing this house. This interest transferred to the auction room with five separate bidders quickly declaring their interest. Described by Don Colleran as “one of the finest Shantalla homes to be placed on the market for sale”, bidding very quickly rose from €180,000 to €283,000 until two remaining bidders pursued this wonderful home in increments of €1,000 until a delighted young family secured the property with a final bid of €290,000 to a round of applause from the packed auction room.

Next up was No 15 Upper Fairhill, Claddagh. Colleran auctioneers is a go-to auctioneer for those buying or selling in The Claddagh, and this was evident with the large number of bidders pursuing this house. Bidding opened at €290,000 and rose in rapid bids of €5,000 until it reached €335,000, and while to most, the bidding seemed finished, Don Colleran delayed dropping his gavel until a new bidder entered the fray, and this bidder secured the property with her final bid of €360,000.

Just when you thought things could not get more tense or exciting, the sale of No 5 Grattan Court had everyone talking. This large family home, which had been beautifully presented for every viewing, is in an unrivalled location for any family. Bidding was initially a little slow to open at the AMV of €380,000, but once it did, four buyers declared their interest and with bids of €5,000 and €10,000, the price quickly rose to €490,000 before two women, who just happened to be sitting beside each other, continued to pursue this lovely property, in what was a very tense finish before Don Colleran dropped his gavel at €515,000 to the delight of the buyer and seller.

The fourth property to sell was St Anne's, Newcastle Road, a 1930s period style house on an elevated site with a large sun-filled bay window looking out on to Galway Cathedral. While in need of a little modernisation, it is full of original charm and character throughout. Because of its proximity to the hospital and college, this property was pursued by both investors and those looking for a city centre home with all its obvious benefits. Bidding was initially slow to start on this property, with the auctioneer having to drop below the AMV of €225,000 before securing his first bid of €210,000, but then the price quickly rose in bids of €5,000 and 25 bids later the property sold for €272,000.

A fifth property which surprisingly did not sell at auction, considering its very attractive guide, was No 2 Atlantic Terrace, Salthill, adjacent to Lonergan’s and Killoran’s opposite Salthill Promenade. A development opportunity, this five bedroom terraced house is currently rented but because of its C1 commercial zoning it has obvious development potential for a commercial unit on the ground floor and what would be a fabulous apartment on the first floor, offering stunning views of Galway Bay. Now on the market for sale by private treaty at a guide of only €260,000, this property qualifies for capital gains exemption if purchased before the end of the year.

After the auction, Don Colleran reported that all his sellers were delighted with the prices achieved for their properties.

Colleran’s next auction will be on November 27 and with a number of bidders still looking for properties, Don Colleran is very anxious to talk to those thinking of selling in The Claddagh, Shantalla, Newcastle, and Salthill.

For more information contact Colleran auctioneers at 091 562293.

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