O’Donnellan & Joyce realised sales of €6 million in the latest of its series of auctions of properties of the western region. There was remarkable value for investors and owner occupiers alike in the company's Wild Atlantic Way summer all day auction last Friday at the Harbour Hotel.
“As usual there was huge interest in Galway city and county properties with family homes in Salthill at No 6 D’Alton Drive and No 22 Oaklands both selling for €475,000, and the hammer fell on the sale of No 15 Ard na Mara at €400,000," commented Colm O’Donnellan, auctioneer.
"Highlights of the city centre property sales included a fixer-upper at No 31 Nuns Island, which attracted great interest, with four minutes of intense bidding, which brought the price from an opening bid of €170,000 to a final sale price of €245,000; and a two bed apartment at No 3 Drom Ard, just off Prospect Hill, which sold for €176,000.”
Mr O’Donnellan added: “The big surprise of the day, though, was a six-acre plot of land in Spiddal village, which had a guide price of €120,000. Two parties battled to buy the property, with intense bidding over a six minute period, before it was finally sold for €310,000.”
No 1 Millrace House, Chapel Lane, Tuam, Co Galway
The first of the Galway properties to be sold, this ground floor commercial unit currently trading as the National Schoolwear Centre had an AMV of €75,000 and bidding opened at €70,000. Two bidders chased this property with bids increasing in €2,000 and €3,000 increments. The hammer finally fell after intense bidding at €105,000 to a very satisfied first time buyer.
No 5 Ardskeabeg, Corofin, Co Galway
Lot no 5 was a spacious five bedroom bungalow in Corofin village, extending to 2,600sq ft and standing on a 0.5 acre site. Bidding opened at €140,000 with two bidders quickly bringing the sale to a conclusion at €165,000.
Unit 16A Sandyfort Business Park, Bohermore, Galway
Ground floor office unit being sold with tenant in place. Currently generating circa €15,000 per annum. Tenants in occupation for seven years and are on a month by month rolling lease. The property includes three underground car parking spaces. Guiding €75,000, bidding was intense with three bidders offering bids in €5,000 increments. The third bidder eventually bowed out and bidding came to rest at the final bid of €169,000.
Bridge Street, Athenry, Co Galway
Lot 15 was an investment property comprising a takeaway restaurant with two apartments overhead. Generating an overall rental income of €21,000 per annum and sold with tenants in place, bidding opened at €160,000 with a phone bidder and an auction attendee both pursuing the bids in €5,000 increments. The phone bidder lucked out in the end with the hammer falling on €200,000 for him. A great sale price for a great investment property.
Turoe, Bullaun, Loughrea, Co Galway
A traditional style bungalow located close to Bullaun village had bids commence at €50,000. The AMV was €60,000 and bids rose steadily in €1,000 increments with €66,000 being the final winning bid.
No 3 Plunkett Avenue, Mervue, Galway
Lot 22 was an investment property at Plunkett Avenue in Mervue. Always a popular area for residential and commercial purchasers, this ground floor retail unit formerly used as a doctor’s surgery had an AMV of €75,000. The opening bid was €70,000 which was below the reserve but the astute purchaser promptly offered the asking price and the property was sold for €75,000.
(Lot No 24 ) No 3 Chapel Court, Chapel Lane, Tuam, Co Galway
A ground floor commercial unit located in Tuam town and suitable for a variety of uses had two strong bidders on it. Bids opened at €30,000 and the sale concluded at €40,000, the advised minimum value, within minutes.
(Lot No 27 ) Moyrus, Carna, Co Galway
Detached four bed residence of approximately 2,500sq ft completed to builder’s finish sold for €95,000 after opening at €85,000.
Nos 22 and 25 Temple Jarlath, Tuam, Co Galway
Lots 30 and 31 were two modern two bed apartments in Tuam town centre. Each had an AMV of €60,000 and had a few interested buyers compete for them. Bidding opened at €55,000 for No 22 and bids came hot and heavy with the hammer falling at €68,000 to an investor. The same person bid on No 25 and eventually after numerous bids was successful in his offers when Mr O’Donnellan dropped the hammer to him at €74,000.
(Lot No 33 ) 1.7 acre site at Forramoyle West, Barna, Co Galway
A site located at Forramoyle West approximately 1.6km from the Twelve Hotel in Barna, attracted a lot of interest. O’Donnellan & Joyce reports that this property was one of the most sought after properties for the day. Bidding commenced at the advised minimum value of €10,000 and increased in increments of €2,000 to finally settle to a very happy purchaser at €22,000.
Nos 13-18 Durabhan, Roscam, Galway
The final lot from the morning auction was Lot no 38, a block of six apartments in Durabhan, comprising three two-beds and three three-beds, being sold as one lot. All apartments are currently let providing a rental yield of €59,000 per annum. This superb investment opportunity had an AMV of €640,000. Bidding started at €610,000 and completed promptly at €640,000.
Afternoon auction results
No 6 D'Alton Drive, Dr Mannix Drive, Salthill, Galway
The first of the afternoon sales, a four bed family home at No 6 Dalton Drive, located within walking distance of Salthill, had bids starting at €450,000 and culminated within minutes to a very satisfied purchaser at €475,000.
No 31 Nuns Island, Galway
Located in the heart of Galway city, No 31 Nuns Island is a rare gem, a little piece of old Galway, on the edge of the canal on a strip where properties such as this rarely come to the market. In need of refurbishment, it retains many original features. Bidding opened at €170,000 and increased in €5,000 increments. After protracted bidding between two parties, the property sold to a delighted purchaser and tumultuous applause at €245,000.
No 15 Ard Na Mara, Salthill, Galway
A fabulous four bed family home presented in superb condition and meticulously maintained both inside and out, only minutes from the Prom, Leisureland, and all notable schools in the area. Bids opened at €380,000 and rose steadily to €400,000, where the hammer fell.
No 3 Drom Ard, St Bridget’s Place, Prospect Hill, Galway
This ground floor two bed apartment just strolling distance from Eyre Square and convenient to shops, bars, and restaurants had an AMV of €150,000. After fervent bidding between two parties with bids commencing at €140,000, the sale culminated at €176,000 to a delighted investor.
No 22 Oaklands, Salthill, Galway
Located in the much sought after and well established residential area of Oaklands, No 22 was one of the nicest homes to come to the market. Bids opened on this executor sale at €460,000 and a sale closed at €475,000.
No 149 Ros Caoin, Roscam, Galway
In an area always popular with investors and owner occupiers, No 149 Ros Caoin is a four bed property offering generous living and sleeping accommodation with a good sized rear garden. Guiding €240,000, bids opened at €220,000 and rose steadily and after 16 bids sold at €268,000.
No 17 Dun Na Carraige, Salthill, Galway
Salthill never ceases to perform in auction sales. No 17 Dun Na Carraige, a lovely two bed ground floor apartment with views over the golf course, Galway Bay, and the Clare hills, the sale included superior quality furniture and fittings together with top class appliances. Bidding opened at €280,000 and 16 bids later the hammer fell at €335,000.
No 17 Glasán, Ballybane, Galway
This three bed semidetached maisonette opposite GMIT and purpose-built to accommodate students and summer holiday lettings had an AMV of €95,000. Bids came hot and heavy in €1,000 increments, and after a protracted 27 bids sold at €120,000.
Cottage at Baile Eamonn, Spiddal, Co Galway
After attracting a lot of interest given its location close to Spiddal Beach and promenade, this derelict cottage style house on just under an acre of ground came to the market with an AMV of €150,000. Bidding opened at €150,000 and closed promptly after four bids at €165,000.
Land at Baile Eamonn, Spiddal, Co Galway
The big surprise of the auction culminated in the sale of a six-acre plot of land in Spiddal village, which had a guide price of €120,000. Two parties battled hard to buy the property, with intense bidding of more than 70 bids in a six minute period, before finally selling for €310,000 to a delighted purchaser who had already purchased the adjoining cottage.
September 1 is the launch date for O’Donnellan & Joyce’s next auction, which will take place on Tuesday September 27 at the Harbour Hotel, New Dock Road, Galway. Colm O’Donnellan invites interested parties to register their interest in selling in this auction by August 23 . Contact Colm, Anne, Mary, or any member of the auction sales team at O’Donnellan & Joyce on [email protected] or call 091 564 212.