O’Donnellan & Joyce auctioneers brought the year 2016 to a successful conclusion when the company recorded €3 million in auction sales on Friday December 16 in its Wild Atlantic Way Christmas auction. The auction took place in the Harbour Hotel to an extremely well attended auction room, where a number of purchasers placed their bids by phone.
Colm O’Donnellan commented that he and the auction team at O’Donnellan & Joyce were "absolutely delighted to wrap up 2016 which saw over 300 properties being sold at auction, beating the 2015 auction sales results.”
O’Donnellan & Joyce is the largest and most successful auction house in the west of Ireland; properties sold by the company in 2016 locations included locations in Donegal, Sligo, Mayo, Leitrim, Cavan, Roscommon, Galway city and county, Westmeath, Clare, Tipperary, Longford, Offaly, and Kerry. Colm O’Donnellan added: “2016 saw enormous interest from mainly local investors and first time buyers. Overseas buyers, just like 2015, also recognised the incredible value that was on offer especially in rural areas."
Highlights of the December 16 auction included Beach House, overlooking Kilmurvey Beach, Inishmore, whose sale proceeds went to Focus Ireland and local charity COPE Galway. Investment properties around the city centre attracted huge interest such as 9 Eyre Square Apartments in Galway city centre, 102 Cuirt Seoige, Bohermore, and 32 Colmcille Road, Shantalla. Lot no 40, a block of one bed apartments in Fortlands Meadows in Loughrea, sold for €300,000 which was €55,000 over the advised minimum value. Sales results for the Christmas auction were as follows:
Lot 1: No 102 Cuirt Seoige, Bohermore, Galway
This modern two bed city centre apartment not far from Eyre Square, which will make a perfect pension, came with an AMV of €160,000. Bidding opened at €140,000 and quickly rose in €5,000 increments until the hammer dropped at €170,000 to tumultuous applause from the large crowd.
Lot 2: Abbey Road, Abbeyknockmoy, Tuam, Co Galway
Detached three bed cottage style residence of approximately 1,100sq ft. The property, which is located 2km from Abbeyknockmoy village, is in need of complete refurbishment. It had an AMV of €32,000 and bidding opened at €25,000. After a frantic 31 bids it finally sold at €75,000, which was €43,000 over the advised minimum price.
Lot 3: Cornarone East, Inverin, Co Galway
Superb family home situated on 0.8 acre of mature gardens. Large tarmac forecourt with ample parking and playing areas for a growing family. AMV was €180,000. Bidding started at €170,000 and climbed in increments of €5,000 to €220,000 after 11 bids.
Lot 4: No 9 Eyre Square Apartments, Galway
Two bed apartment located on a quiet rooftop courtyard above the Eyre Square shopping complex and close to a host of shops and restaurants. AMV was €185,000. Bidding opened at €170,000 and the hammer dropped at €205,000.
Lot 5: Beach House, Kilmurvey, Inishmore, Aran Islands
The highlight of Friday’s auction was the sale of Dragons’ Den businessman Barry O’Sullivan's holiday home on the Aran Islands. There was strong local and national news media interest in the sale as Mr O’Sullivan generously donated the proceeds of the sale to two charities — Focus Ireland and COPE Galway. Bidding started at €210,000 with an offer from an eager phone bidder. Bidding was fast and furious and quickly rose in small increments of between €1,000 and €5,000 and culminated in the hammer dropping at €273,000 after 19 bids. The seller was delighted with the price, as was the purchaser who quickly left the auction room to remain anonymous.
Lot 6: No 17 The Courtyard, Cornadarragh, Belturbet, Co Galway
A three bedroom duplex apartment extending to circa 1,100sq ft. Sold with tenants in place, the AMV on this property was €50,000 but bidding commenced at €30,000 and after eight bids it sold for €52,000.
Lot 7: Brackernagh, Ballinasloe, Co Galway
A detached single storey property, formerly a butcher training academy, comprising ground floor retail unit with office and large enclosed yard to the rear. This property was guiding €90,000 and sold very quickly for €100,000.
Lot 8: No 90 Cois Na hAbhainn, Ballygaddy Road, Tuam, Co Galway
The first of two three bed mid-terrace houses located only 10 minutes’ walk from Tuam town centre. Both would make excellent starter homes or nice little investment properties. The AMV for No 90 was €65,000 and it sold for €74,000 after three bidders chased it.
Lot 9: No 91 Cois Na hAbhainn, Ballygaddy Road, Tuam, Co Galway
The second of the three bed terraced homes for sale in this auction in Cois na hAbhainn, the AMV was €65,000 and bidding opened at €55,000 with the hammer finally falling at €67,000 to the lucky purchaser.
Lot 10: No 87 Glasan, Ballybane, Galway
Glasan is a very popular location in which to invest and O’Donnellan & Joyce sold this three bed semidetached maisonette (sleeps four ), located opposite GMIT and purpose built to accommodate students and summer holiday lettings. Bidding opened at €100,000 with the AMV at €105,000 and after 19 bids sold at €134,000.
Lot 17: No 2 Ashwood, Seacrest, Knocknacarra, Galway
Three bed semidetached home ideally located in the residential development of Seacrest which is accessed off the Shangort Road in Knocknacarra. AMV was €195,000. Bidding started at €180,000 and after four bids very quickly rose to €195,000, and the hammer dropped at that top bid.
Lot 19: No 130 Dun Na Hinse, Lahinch Road, Ennis, Co Clare
Four bedroom semidetached bungalow with large rear garden, located on the Lahinch road close to Ennis town centre. A number of investors chased the bids for this property, keenly priced with an AMV of €65,000, and after 10 fast paced bids, it sold for €75,000.
Lot 20: Three serviced sites at Glenbrook, Knock, Co Mayo
There was a lot of interest in three serviced sites in Glenbrook housing estate in Knock. The sites previously contained planning permission for semidetached homes and are within walking distance of Knock village. The AMV was a very reasonable €9,000 and sold after six bids to a very happy investor for €22,000.
Lot 21: Six serviced sites at Glenbrook, Knock, Co Mayo
The second lot of serviced sites, totalling six in this lot, in Glenbrook. They also previously had planning permission for semidetached homes. Bidding opened at the AMV of €18,000 and within barely a minute sold to a determined investor for €25,000.
Lot 23: No 8 Brooklawn, Castlerea Road, Ballaghaderreen, Co Roscommon
Two storey semidetached home located within walking distance of the town of Ballaghaderreen and within 20 minutes’ drive of Knock Airport. This property had an AMV of €45,000 and bidding commenced at €40,000, and after 19 bids in single increments the hammer fell at €62,000.
Lot 27: No 22 Dun Ri, Carrick-On-Shannon, Co Leitrim
A three bed semidetached residence with large rear garden, the property required some upgrading throughout. The AMV was €90,000 with bidding opening at €80,000, and after 13 bids including interest from three phone bidders, it finally sold for €140,000.
Lot 29: Nos 32A and 32B Colmcille Road, Shantalla, Galway
This property is a semidetached residence sub-divided into two self-contained apartments, one two-bed and one one-bed apartment, both with en suite bedrooms. The property was being sold with tenants in place. Bidding opened at €150,000 and very quickly reached the AMV of €175,000. After 13 bids between two bidders in the room and one phone bidder, the property sold at €182,000.
Lot 34: Tyrur, Newbridge, Co Galway
Partially completed two storey detached residence located near Mountbellew in a small rural area and standing on circa 1.2 acres with substantial works required to complete the property. AMV was €45,000, which was quickly accepted from one lone bidder.
Lot 37: No 26 Gleann Eadan, Letterkenny, Co Donegal
Modern three bed semidetached residence located approximately 3km from the town centre. This was an ideal first time buyer's home but it was an investor who was lucky enough to beat off stiff competition from three other bidders for this property. The AMV was €70,000 and after 22 bids the hammer finally fell at €101,000.
Lot 38: No 36 Chestnut Grove, Letterkenny, Co Donegal
This five bed detached residence is located within close proximity of Letterkenny town, and would make an ideal family home. The AMV was €125,000 and it was very quickly sold to one of four phone bidders for €126,000.
Lot 39: No 58 Chestnut Grove, Letterkenny, Co Donegal
Semidetached residence located in the heart of Letterkenny. This property required some slight decorative upgrading. AMV was €75,000 with five phone bidders chasing this property. It sold after 26 bids for €103,000.
Lot 40: Fortlands Meadows, Loughrea, Co Galway
The final lot of the day’s auction was a block of four one-bed apartments, comprising two apartments on the ground floor and two on the first floor, located on a large corner site at the entrance to the development and within walking distance of the town centre opposite the hurling pitch. Bidding opened at the AMV of €245,000 and sold for €300,000 after 14 bids. It will be a very merry Christmas for the vendors and it will be a very prosperous New Year for the buyers.
O’Donnellan & Joyce’s next Wild Atlantic Way property auction will take place on Friday March 3 2017. Sellers are invited to register their interest to include their property in this auction by contacting any member of the auction sales team at O’Donnellan & Joyce before January 27 on [email protected] or call 091 564 212.