O’Donnellan & Joyce Auctioneers had a wonderful day in the auction room for its nationwide property auction on Friday November 8, with more than 50 properties going under the hammer. Properties sold all along the Wild Atlantic Way including Donegal, Sligo, Longford, Mayo, Galway, and Clare and across the nation taking in properties in Westmeath, Kildare, Kilkenny, Wexford, and Dublin. It was the east coast properties that drew in the majority of internet and phone bidders while the room was packed to capacity with those who wanted to purchase the large number of Galway city properties.
There was a superb mix of residential and commercial property, and also land, up for grabs on the day. All properties performed exceptionally well, reaching their reserves with a number of properties going for well above the advised minimum value.
The day started out with an announcement that Lot 1, a cottage situated on a large site, had sold prior to auction. The three bedroom detached home is situated on a magnificent 2.15 acre site at Caheravoley, Cummer, Tuam and had attracted a large amount of attention with a staggering number of interested parties viewing the property over the four week campaign. After some negotiation, the property was purchased prior to auction for an undisclosed figure.
Following the announcement of Lot 1, three lots of Galway city properties were offered one at a time, each located at Dun Na Coribe on the Headford Road. Firstly a magnificent four bedroom detached home located at No 166 Dun na Coiribe which attracted phenomenal interest with more than 100 recorded viewers at open viewings over the campaign. Bidding opened at €310,000 and an intense and long lasting bidding war concluded at €385,000, with the hammer falling to loud applause within the room. Lot 3 was a large four bed end of terrace home located at No 136 Dun na Coiribe. Again, viewers flocked in large numbers to view this wonderful family home. After 10 bids, the hammer fell at €310,000. Lot 4 was a three bed duplex at No 14 Dun na Coiribe. After a successful marketing campaign and many views over the eight open viewings, the property sold for €265,000 — €15,000 above the AMV.
The star performer on the day was Lot 5, No 39 Churchfields, Salthill. This property is in a much acclaimed residential development which was built by O’Malley Construction and is located in one of Galway’s most sought after areas close to Salthill Promenade and within easy access of all major facilities. This substantial spacious detached residence stands on a large site and has a westerly aspect to the rear. Boasting an AMV of €430,000, this property attracted huge attention, and with a number of families and couples attempting to secure this wonderful home, the bidding concluded at €500,000.
Lot 6 was a site at Lough Atalia Road, Galway. The property offered breathtaking views overlooking Lough Atalia and full planning permission for a five storey apartment building comprising three two bedroom apartments and two ground floor one bed duplex units. The site planning also offers six car spaces, bike storage, and associated site works. After enormous interest from builders and individuals wishing to secure the site for a private residence, the property sold prior to auction for an undisclosed sum.
Lot 8 offered value with Apt 3 Clan House, Dominick Street, Galway, going under the hammer for just €175,000. This property was presented in excellent condition and in a superb location. Bids on this property came in through a number of channels including phone and live bidders with the lucky purchaser securing the property through the internet bidding service.
Lots 12 and 13 came in the form of two bedroom apartments located in Glenview House. No 4 Glenview House was presented in turnkey condition with a front facing balcony overlooking the popular Salthill village, while No 6 offered an open plan kitchen/living area, a bathroom, and two bedrooms, one double and one single. Both properties attracted significant interest and offered superb value, with the hammer falling at €175,000 and €162,000 respectively.
In rural Galway, a two bedroom apartment presented in good condition and located at No 33 The Grove, Gort, was open for bids at €70,000, and after a number of bidders threw up their paddles, concluded at €90,000. In Ballygar, Co Galway, a four bedroom detached home closed at just €60,000. The property was on a large site, offering development potential subject to planning.
It is safe to say there were some very happy purchasers securing their desired properties around the county of Galway. A little further out, a two bed detached home at Alloon Upper, Ballymacward, offered a rural setting within walking distance of the villages of Ballymacward and Alloon with a local church, school, and community centre. The house is 10km from New Inn, Ballinasloe, with easy access to the M6 motorway. Offered at an AMV of €75,000, this property was purchased for the attractive price of just €75,000. This property illustrates the great value that can be achieved when purchasing at auction.
As the company’s portfolio grows and it takes on a number of east coast properties including a number of Dublin city apartments, the internet bidding platform that was introduced at the September auction continues to prove itself as a valuable and worthwhile investment. As the market in Ireland slows down, O’Donnellan & Joyce notes a number of international buyers coming forward to purchase investment properties around the country, and the popular auctioneer has developed a strong rapport with these individuals who favour internet bidding at property auctions.
Looking outside Galway, O’Donnellan & Joyce offered two apartments in Dublin city in its November catalogue. The first property was No 18 Steeven’s Gate, James Street, Dublin 8, a two bedroom apartment guiding at a very attractive €235,000. There were three couples bidding in the room, two individuals on the phone, and two parties bidding from abroad through the internet bidding platform. After a long duel, the hammer fell and the property was awarded to a young couple who attended the auction in person. The sale price was €302,000 and this was a staggering €67,000 above the AMV. The second Dublin apartment, which was offered for sale with a tenant in place and presented in good condition, was snapped up by an investor for just €220,000. While the property was located at the highly sought after Islandbridge, Dublin 8, this example goes to show that a vacant property is much more desirable and at Friday’s auction, drew a much greater variety of purchasers with a higher spending powers and desire to buy.
Back on the west coast, Sligo city offered a very attractive property at No 2A Wine Street, Sligo. The property occupies a high profile site just off O'Connell Street with a high volume of passing trade. Again, this property attracted a number of internet and phone bidders and was purchased successfully by a phone bidder for €110,000.
In the sunny southeast, O’Donnellan and Joyce presented a number of fine properties. The selection included a two bedroom townhouse in Gorey, Co Wexford, which sold for €104,000. In Kerdiff Close, Naas, Co Kildare, a four bedroom semidetached home was offered with a guide price of €295,000. A two bedroom apartment also in Kildare and located at No 12 The Grove, Athy, was offered and sold for €90,000.
While O’Donnellan & Joyce is now regarded as Ireland’s largest independent auction house and continues to expand its operations across the nation, the company would like to remind Galway homeowners that the growing auction team is always available to offer a free 'thinking of selling' valuation on any property.
The next O’Donnellan & Joyce auction will take place on December 13 at the Harbour Hotel, Galway. The deadline for registration of properties is November 15. Anyone thinking of selling is advised to contact the office as early as possible to benefit from the extended marketing campaign in the Nationwide Property Auction.
For more information contact Colm O’Donnellan on (091 ) 564 212. The catalogue for the next auction will launch on November 21 and can be viewed online at www.odonnjoyce.com
Details are also available from the auction team at O’Donnellan & Joyce auctioneers, 5 Mary Street, Galway, 091 564 212.