Prices at Colleran’s auction exceed expectations

Auctioneer Don Colleran.

Auctioneer Don Colleran.

It was standing room only in Colleran's auction last week when five city centre properties went under the hammer. It was a case of quality not quantity, Don Colleran announced from the podium, with properties in some of Galway's most sought after locations of Renmore, Castlelawn Heights, Bohermore, and Claddagh.

First to sell was No 160 Castlelawn Heights, a three bedroom semi in good order. Bidding quickly opened at €190,000 and with five different people bidding on the house, it was not long before it sold for €239,000 to a man standing at the back of the room. Next to sell was a large extended four bedroom house on Cooke's Terrace, Bohermore. Described by Colleran as "easily one of the finest homes to be offered for sale in Cooke's Terrace" the property eventually sold for €209,000, a new record for the area.

It was obvious that most of the large attendance present was for the two Claddagh properties, two very different and unique homes. The first of the Claddagh houses to be auctioned was No 12 Grattan Terrace, a very special property sitting on an elevated site overlooking the Promenade with breathtaking views of Galway Bay from sunrise to sunset. Bidding was very slow to open, and while it looked to some that the property was not going to sell, Don Colleran's considerable experience in selling Claddagh properties told otherwise. Bidding eventually opened at €330,000, but again it appeared that there was only one bidder in the packed auction room. The auctioneer reminded everyone in the room once again of the uniqueness of this property and said "even if they won the lotto the following weekend it would be too late, as there isn't another property on the promenade like it." At this stage bidding quickly rose in bids of €5,000 to €390,000. While to some it appeared to be sold, the auctioneer delayed dropping his gavel, sensing there was further interest in this property, and following a very tense five minutes, bidding continued until Colleran eventually sold 12 Grattan Terrace, Claddagh, to the opening bidder for €455,000.

No 6 St Dominick's Road, a magnificent three bedroom terraced bungalow, which had been totally renovated and extended 11 years ago to a very high standard, was sold after auction along with a further property in Renmore.

Colleran auctioneers is now listing properties for its next auction in May and is offering free sales valuations to anyone thinking of selling.

For more information call Colleran auctioneers at 091 562293.

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