It was a day for the buyer at O’Donnellan & Joyce’s packed auction room in the Harbour Hotel, Galway, last Friday, April 17. It was the company’s second auction of the year, and the seventh in 15 months, where excellent value for money was on offer for more than 500 eager buyers who generated €3.2m in property sales from lots presented from Galway, Mayo, Sligo, and throughout Connacht.
Leading Galway auctioneer Colm O’Donnellan, in his inimitable auction room style, landed his hammer on more than 20 lots while furious negotiations took place immediately after the auction on a further five properties which had fallen marginally short of their reserve before sales closed ahead of the weekend.
Investors were evident throughout the afternoon and well prepared for the value that was on offer in key areas across Galway city. Properties close to Galway city centre included a two bed apartment at Sáilín in Wellpark, close to the five star g Hotel, which sold for €179,000, while a three bed terraced house within walking distance of Eyre Square at Bohermore sold for €90,000, and a three bed end of terrace house in Mervue close to the GMIT sold for €162,000.
As always in Galway, family homes in established Galway residential addresses were much sought after, yet buyers achieved excellent value at the auction. A four bed detached house at No 7 Carragh Drive in Salthill sold for €498,000. The very popular suburb of Knocknacarra saw a four bedroom detached house at Westbrook sell for €375,000, and in the coastal village of Barna just outside Galway city a four to six bed bungalow in beautifully mature gardens, Driftwood, Forramoyle West, sold for €440,000.
Conspicuous by their absence from the O’Donnellan & Joyce auction room were first time buyers, as all pre approved mortgages have now expired, but this led to greater space in the busy auction room for cash buyers to take full advantage of the exceptional value on offer in Galway city and county, where a four bed dormer bungalow at Bruach na Mara in the scenic Connemara village of Carna saw the hammer fall at €94k for a very happy buyer.
The auction featured many properties throughout Connacht, and O’Donnellan & Joyce also acted jointly for other auctioneers from Mayo and the surrounding region. Investors snapped up a two bed apartment at Buttermarket, Quay Street, Sligo, for €35k, while a derelict two storey residence on Station Road, Swinford, attracted several interested bidders before finally selling at €55k.
In the commercial sector, there was much interest in lot 20 in the Co Mayo town of Claremorris on the N17, just over an hour from Galway city and close to Ireland West Airport Knock, where a single lot comprising four retail units and nine apartments sold for €322k. A retail unit of 620sq ft in Buttermilk Walk in Galway city centre sold for €80k, while Brisbane House, Ballybane, comprising a warehouse of 6,400sq ft combined with mezzanine area of 1,500sq ft was under intensive negotiation following the auction.
“It was a day for the buyers, there was great value on offer and cash buyers and investors were keen to spend in Galway city and through the Connacht region,” Colm O’Donnellan said after the auction. “We did notice the absence of the first time buyers this afternoon now that the pre-approved mortgages have expired, but investors were still very evident in our auction room today and hungry for the quality investment properties we had on offer at excellent prices.
“The demand for quality family homes remains very high in Galway city and county due to the popularity of the location and the lack of building in recent years,” he added. “We had some stunning properties in fantastic addresses achieving great prices today.”
O’Donnellan & Joyce auctioneers was the first auctioneer outside Dublin to offer all day property auctions for non-stressed properties, such has been the success of its high quality auction model which sold €40m in property sales in 2014. Satisfied vendors and buyers continue to return, with one regional buyer attending six O’Donnellan & Joyce auctions over the past 15 months.
Below is the full list of results from last Friday’s auction.
No 3 Kilcrona, Rockbarton: Two bed apartment, sold €187,000.
No 7 Carragh Drive, Salthill: Four bed detached, sold €498,000.
No 27 Cois Clár, Claregalway: Two bed apartment, sold €87,000.
Unit 1 Kilrainey, Moycullen: Retail unit (tenants not affected ), sold €70,000.
No 17 Sáilin, Wellpark: Two bed apartment, sold €179,000.
No 6 Ceannt Avenue, Mervue: Three bed end of terrace, sold €162,000.
No 2 Buttermarket, Quay Street, Sligo: Two bed apartment, sold €35,000.
Old Street, Athenry: Commercial unit and two bed apartment, sold €100,000.
Driftwood, Forramoyle West, Barna: Four-six bed bungalow, sold €440,000.
No 185 Cluain Riocard, Headford Road: Two bed apartment, sold €81,000.
No 48 Wellpark Grove, Dublin Road: Four bed detached, sold €170,000.
No 9 St Anthony’s Terrace, Bohermore: Three bed terraced, sold €90,000.
Station Road, Swinford: Derelict two storey residence, sold €55,000.
No 7 Raleigh Row, city centre: Two bed terraced, sold €160,000.
Unit 2 Buttermilk Walk, Middle Street: City centre retail unit 620sq ft, sold €80,000.
No 39 Westbrook, Knocknacarra: Four bed detached, sold €380,000.
No 2 Bruach Na Mara, Carna: Four bed dormer bungalow, sold €94,000.
No 38 Portacarron, Knocknacarra: Three bed semidetached, sold €195,000.
Ballyhaunis Road, Claremorris: Four retail units and nine apartments, sold €322,000.
To view a clip of the auction highlights find O’Donnellan & Joyce auctioneers on Facebook.
O’Donnellan & Joyce’s next auction is scheduled for Friday June 12 with marketing commencing on Thursday May 14.
For further details on O’Donnellan and Joyce auctions or private treaty property sales see www.odonnjoyce.com or contact the office on 091 564212.