O’Donnellan and Joyce Auctioneers' recent ‘virtual’ property auction, despite being held behind closed doors, was viewed by thousands courtesy of a high definition live video stream provided by the auction house.
Properties were on offer from all parts of the country, but most notably from Galway county with a number of former Garda Stations and residences, being sold by the Office of Public Works, attracting huge interest.
After a busy four weeks of open viewings, a large number of local investors and ex-pats had registered in advance of the auction with many expressing an interest in remote bidding before the registration had even opened. Telephone and internet bids were received from those who watched online from throughout Ireland, UK, US, Europe and Australia
The highlights of the day were in County Galway and, in particular, the Connemara region, and it was not surprising that these semi-derelict properties sold well in excess of their reserve prices.
Some of the Galway properties which attracted huge interest included 14 Bridgewater Court, Claddagh, Galway, 29 Crescent View, Riverside, Galway, and 13 O’Donoghue Terrace, Galway city. Some properties sold prior to auction, while the remainder went under the auction hammer in front of TV cameras from both RTE and TG4 who were in attendance.
Colm O’Donnellan of O’Donnellan & Joyce Auctioneers said the atmosphere was electric.
"On a normal day, the auction room is packed, but last Friday, our phone lines and internet platform capacity was put to the test. With such high volumes of interest, the registrations kept the auction team busy for the two weeks prior to the auction, and there was great relief when registration closed and we could take a moment to breathe before we the auction kicked off.
"If any one missed the live auction, they can watch the recording. The atmosphere in the room, across the webs, and down the phone lines was electric, and the bids came in as fast as I can ever recall.
"The property at Leenane set the scene for the day with many of the catalogue properties selling at exceptional prices. "
The auction got off to a flying start with the former Garda Station and residence in Leenane. In need of modernisation and internal improvement, the property offered great potential with approximately 1200sqft of living space and sizable private gardens in an charming setting alongside Killary Fjord in the village of Leenane. Externally the property has the fortune of an abundance of private green space, in addition to two spacious storage sheds, ample space for off-street parking, providing an excellent opportunity to acquire a family holiday home or retirement settlement in an idyllic location of Connemara. The bidding opened at €70,000 and after more than 50 bids, the gavel fell at €325,000 – an astonishing figure, but unsurprising given the location and the potential.
Former Garda Station & Residence, Corrandulla, Galway: Although in need of extensive refurbishment work both internally and externally, this attractive property drew interested parties from both near and far with bidders logging in from Dublin to Dubai and as far as Australia. Bidding on this property opened at €70,000, but quickly increased to more than three times the reserve and the sale concluded at €250,000 .
Former Garda Station & Residence, Maam Cross, Galway: A majestic detached property in the well-known area of Maam, west of Galway, was the third of three former Garda stations to go under the hammer. Excellently located within close proximity to main Galway to Clifden road and just moments from the heart of the Maam Valley, this property offers incredible views of the Maam Turk mountains and is surrounded by private lands which were also bundled as part of the attractive lot. The bidding opened at €70,000 which was more than twice the reserve price. With multiple international purchasers, bidding was intense and fast paced before being sold for €216,000.
14 Bridgewater Court, Fairhill Road Lower, Claddagh, Galway: Situated just off Dominick Street and within strolling distance of Quay Street and the Spanish Arch, this two bed apartment was perfectly located for anyone looking for a city centre living lifestyle, or a gilt-edged investment. The bidding opened at €168,000 and after just eight bids from the panel of phone and internet bidders, the purchasers walked away with the property for just €180,000.
"Despite the strong demand for apartments in the city, this property is a great example that superb value can still be got and that the auction method of buying can very often swing in the purchasers favour," says Colm O'Donnellan.
14 Westpoint, Westport, Mayo: This large retail unit comprising 475sq mixed use space is located within Westpoint Shopping Centre which also houses many high profile outlets such as Tesco, Boots and Euro General. Located on Altamount Street which is 500 metres from the town centre, this modern and purpose built structure is presently in a shell and core state. Floors and ceilings are concrete throughout and the front facade is primarily glazed which provides an abundance of natural light across both levels. This unit was originally planned as a restaurant facility, but offers multiple other user possibilities subject to planning permission. The bidding opened and quickly reached €250,000, but the property was postponed due to failure to meet the reserve price. When the highest bidder was awarded his hour of exclusivity with the auctioneer, an deal was reached and the sale concluded post auction.
Other properties that sold on the day: Cloonyconaun, New Inn, Galway SOLD €38,000; Coate's Lane, Bridge Street, Eyrecourt, Galway SOLD €17,000; Quarry Cottage, Pollacullaire, Headford, Galway SOLD €75,00029; Crescent View, Riverside, Tuam Road, Galway SOLD PRIOR; 13 O'Donoghue Terrace, Headford Road, Woodquay, Galway SOLD PRIOR; 12 Rathgarve Green, Castlepollard, Westmeath SOLD €87,000; 31B Old Golf Course Road, Donegal Town, Donegal SOLD €145,000; 1 The Birches, Tuam, Galway SOLD €153,000; 11 Sruthan na Teorann, Carraroe, Galway SOLD €140,000; Lavagh, Ballymote, Sligo SOLD €60,000; Lisduff, Irishtown, Ballindine, Mayo SOLD €40,000; Diamond Bar, Eyrecourt, Ballinasloe, Galway SOLD €48,000; 10 St Mary's Terrace, Athlone East, Westmeath SOLD €74,000.
O’Donnellan & Joyce Auctioneers' next nationwide property auction will take place on Friday October 30 with a wide variety of residential and commercial properties across the western seaboard and across to the east coast. The next auction catalogue launches October 1. ’.
O’Donnellan & Joyce says if anyone has an interest in selling or having their property valued for the forthcoming auctions, contact the O’Donnellan & Joyce auction team (091 ) 564212 or [email protected]. Further information is available at www.odonnjoyce.com