The O’Donnellan and Joyce auction was packed to capacity once again when the company placed 18 properties under the hammer last Friday. The majority of the properties were family homes in established locations throughout Galway city.
The noticeable difference in this auction was the presence of three major banks which had displays in the reception area offering finance to interested parties prior to the auction.
The first property to be auctioned was No 28 Oaklands, Salthill a four bedroom semidetached residence with a west-facing rear garden. This property was in need of some modernisation. Bidding commenced at €285,000 and was chased by three people with increasing increments of €5,000 until the auctioneer’s hammer came down at €330,000.
The second property to go under the hammer was No 23 Dun na Mara, Renmore, a three bedroom semidetached house with an extension to the rear, described by the agents as an excellent family home in exceptional decorative order. Bidding commenced at €200,000 and four people chased the property increasing in increments of €5,000, and at €220,000 just when it looked as though the auctioneer’s gavel was about to fall a fresh bidder entered the fray, and the hammer eventually fell at €262,000.
The next property to be auctioned was a detached four bed home on one acre in Clooniffe, Moycullen. Bidding opened at €190,000, which was the reserve price, and it was placed immediately on the market. Rapid bids were exchanged by two interested parties until the final bid of €260,000 secured the property for a delighted purchaser.
The fourth property was No 51 Glenina Heights, an executor sale of a four bedroom detached house in need of refurbishment. Bidding commenced at €160,000 with bids from three different interested parties and was eventually sold at €196,000.
The fifth property to be sold was No 74 Woodlands, Lackagh, a three bedroom semidetached residence in the heart of Lackagh village. The property had attracted interest from first time buyers and two first time buyers exchanged bids commencing at €95,000 until it was sold for €125,000.
The next property which was to be auctioned was No 19 Fairgreen House, Fairgreen, which was sold just before the auction at €110,000.
The seventh property to be auctioned was No 32 Lakeshore Drive, Renmore, a three bedroom bungalow overlooking Lough Atalia. Bidding commenced at €195,000 and bids were exchanged between four interested parties until it reached €205,000, when a fresh interested party entered the bidding and increased bids until the hammer fell at €214,000.
The eighth property to be auctioned was No 63 Threadneedle Road, Salthill, a detached residence in need of total refurbishment, making the site the major attraction in this case. Bidding commenced at €300,000 and continued between two interested parties until the auctioneers hammer came down at €350,000.
The ninth property which was auctioned was No 45 Rockbarton Park, Salthill. This excellent four bed detached family home is located just off Salthill Promenade. The bidding featured three individual bidders with rapid exchanges between the interested parties for a period of 10 minutes and was sold for €360,000.
The 10th property to be auctioned off was the Merriman Hotel, Kinvara, a 32 bedroom hotel with a large bar situated in the village centre. This auction was the highlight of the afternoon with an overseas client, represented by an agent on the phone, bidding against a person from Kinvara who was in attendance. The bidding commenced at €350,000 and increased in increments of €5,000, and after a breathtaking period of 10 minutes it eventually sold for €610,000 to the local buyer to tumultuous applause from the large audience.
The 11th property to be auctioned was a residence at Uggool, Moycullen. This property, situated on a large attractive site of one acre, attracted two bidders and bidding commenced at €180,000 and continued until it was sold at €235,000.
The final property to be auctioned was No 9 Montpelier Terrace, Sea Road. This was a terraced residence located in one of Galway’s most popular residential areas and in need of total refurbishment and modernisation. Bidding commenced at €130,000 and it was placed on the market by the auctioneer at €150,000. Two interested parties continued bidding until it was sold to a delighted purchaser at €265,000.
A two bedroom apartment at No 12 Cuairt na Tra, Salthill, was sold just prior to the auction for €100,000.
Four houses failed to sell at the auction — a bungalow at Carraun, Claregalway, which was withdrawn at €99,000; No 31 Tudor Lawn, Newcastle, which was withdrawn at €227,000; an apartment at No 98 Dun Aras, Bishop O’Donnell Road, which was withdrawn at €80,000; No 13 McBride Avenue, Mervue, which was withdrawn at €92,000; and No 17 Whitestrand Avenue, Salthill, which was withdrawn at €295,000. All these properties are under active negotiation and the auctioneers are confident that two of these will be sold at the time of going to print which will bring the total sales to 15.
According to Colm O’Donnellan of O’Donnellan and Joyce auctioneers auction is the best way to dispose of properties in the current environment. If sellers offer realistic prices there will be no shortage of buyers.
O’Donnellan Joyce’s next auction with be held on July 20.
If you wish to register a property for the auction contact the O’Donnellan and Joyce auction team, Colm O’Donnellan 087 288 7446, Tony Joyce 086 252 9110, Anne Harding 086 817 3335, or the office on 091 564212.