O’Donnellan & Joyce had the best auction of the year when it placed six properties up for sale and recorded four sales. Meanwhile the two remaining properties are under active negotiation.
The six properties were placed up for sale in the Victoria Hotel, which was packed to capacity with a large number of buyers believing that we have reached the bottom of the market and seeing it as an opportunity to secure properties in great locations at tremendous value.
The first property to be offered for sale was No 13 The Crescent. The property was introduced by auctioneer Colm O’Donnellan as a “rare jewel” located in one of the most prestigious areas in the city. The property required extensive modernisation. Bidding commenced at €440,000 and for a frenzy period of five minutes bids came from two individuals and the hammer eventually dropped at a price of €500,000 to a huge cheer from the crowd.
The solicitor for the vendor was Michael Molloy, Blake & Kenny, St Francis Street, Galway. The property was purchased by solicitor Paschal Mullery in trust.
The next property to be auctioned was a five bedroom detached house at No 14 Elmpark Road, Newcastle; a gilt edged investment, better than money in the bank, is how the auctioneers described it. Bidding commenced at €240,000 and four individuals chased the property until it reached a price of €265,000, and eventually it was left to two individuals who increased their bids in €1,000 until the auctioneer’s hammer fell at €275,000, once again to a tremendous applause. The solicitor for the seller was Maeve Joyce of Horan & Sons, Eyre Square, Galway.
The third property to be auctioned was No 26 Oaklands, Salthill, described by O’Donnellan & Joyce as an outstanding family home in an outstanding location. The property attracted three bidders and commenced at €500,000, and rapidly went to €545,000 when it was withdrawn and intense negotiations were entered into with the interested party and auctioneer Colm O’Donnellan. It was eventually sold for €575,000 to a delighted couple who purchased the property as a family home. The solicitor for the seller was Martin Mulroy, University Road, Galway.
The fourth property was a detached house in Sandyview Drive, Riverside. Bidding commenced at €170,000 and it was eventually withdrawn at €185,000. Auctioneer Tony Joyce negotiated the sale immediately afterwards and sold for €195,000. The solicitor for the seller was Breda Tierney, Kieran Murphy & Co, The Crescent, Galway.
The fifth property was a detached residence at Cregboy, Claregalway, which also achieved excellent interest and was withdrawn at a price of €285,000 and is currently under active negotiation and sale is near completion. The solicitor with carriage of sale is Deirdre O’Connor, DM O’Connor & Co, Cross Street, Galway.
The sixth property, Brooklodge, Newcastle Road, is a substantial family home/bed & breakfast with 10 large bedrooms and an extensive car park to the rear. It obtained a price of €600,000 and was withdrawn. A higher offer was obtained after the auction and is currently under negotiation. The solicitor with carriage of sale is Elizabeth Cazabon, Atlanta House, Dominick Street, Galway.
Colm O’Donnellan of O’Donnellan & Joyce said the company was delighted with the capacity attendance and tremendous bidding. O’Donnellan & Joyce is now one of the most successful auctioneering companies in Ireland, having sold more houses by public auction than any other private company in the country. O’Donnellan said the great thing about auctions is the properties are sold unconditionally and individuals have to have their money organised prior to the bidding, it is open and transparent, and the clients are delighted to have their properties sold. The buyers are looking for value for money and properties in prime locations.
O’Donnellan & Joyce’s next auction will take place on July 16 and the properties being offered for sale are No 1 South Park, Claddagh; Corcullen House, Corcullen; and No 36 Newcastle Road.
For further particulars contact Colm O’Donnellan, Tony Joyce, or Anne Harding on (091 ) 564212.