Wednesday October 27 turned out to be a successful day for O’Donnellan & Joyce with a wide range of properties across the west of Ireland going under the auction hammer in the company's digital auction room. Colm O’Donnellan took to the podium at his live stream property auction which was viewed live by more than 3,000 people nationally and internationally.
Last week's October property auction was highly successful with many properties sold on the drop of the hammer, with others selling after some post auction negotiation. With the help of virtual tours and video walkthroughs, many people are purchasing homes without even physically viewing them. The live stream auction provides a platform like no other which enables people to purchase their future home without leaving their current abode.
Commencing at 12 noon last Wednesday, bidders viewed the auction from the comfort of their own homes and offices, while bidding by telephone, proxy and internet bidding. The properties which sold last week include the following.
Lot 1 – Licensed premises, formerly O’Grady’s pub, Tubber, Co Clare
Situated on the edge of Tubber, Co Clare, this property formerly known as O’Grady’s pub comprised a seven day licensed premises and overhead accommodation. Although substantial expenditure was required to bring the property up to a modern acceptable standard, the property still attracted a huge amount of attention and there was a total of 12 bidders on the day. The lot commenced at the AMV price of €60,000 but quickly rose in increments of €5,000 to the final sale price of €95,000.
Lot 2 – Former licensed premises, Garrafrauns, Tuam, Co Galway
This substantial detached former licensed premises and residence in Garrafrauns was similar to lot 1 as it needed extensive renovations to bring it up to an acceptable standard. The bidding on this lot concluded at €40,000 and is sure to become a spectacular property once renovations are complete.
Lot 3 – No 3 Bowling Green, Galway
This superb three bedroom mid-terrace home in Galway city centre, only a stone's throw from Eyre Square, turned out to be the star of the show on the day. This excellent property was a great investment opportunity with huge rental potential due to its location in the city centre, or it could be the perfect home. The auctioneer accepted more than 20 bids from a total of 10 bidders. The lot commenced at the AMV of €350,000 but quickly rose to the final sale price of €443,000, which was nearly €100,000 over the reserve price.
Lot 4 – No 109 Corrib Park, Newcastle, Galway
Located within walking distance of Galway city centre, this mid-terrace property included three spacious bedrooms. The property attracted great attention from the market with many inquiries and bidders pre-registering to purchase the lot. Bidding on this lot commenced at the AMV of €240,000 and quickly concluded at a sale price of €270,000.
Lot 6 – No 3 Saint Anthony’s Place, Woodquay, Galway
This property, also located in Galway city centre, was a terraced home with three large bedrooms and represented an excellent investment opportunity for the new owner. Bidding on this lot commenced at the AMV of €290,000 and quickly concluded at a sale price of €314,000.
Lot 10 – Red’s Bar, Eyrecourt, Ballinasloe, Co Galway
This former public house, known locally as Red’s Bar, is located in the centre of Eyrecourt Village, only 20km from Ballinasloe. Although the property requires total upgrading throughout it provides a brilliant opportunity for the buyer to transform it into an attractive property. The lot commenced at €42,000 eventually went under the hammer for €60,000.
Lot 11 – No 3 Market Street, Clifden
A commercial property comprising a ground floor unit along with two apartments overhead. This property was situated in the centre of Clifden town just off Market Street and received many inquiries from people looking to pre-register to bid. The sale concluded at a sale price of €340,000.
There were many other sales on the day with properties across the west of Ireland going under the hammer. In Donegal, a block of four self-contained terraced dwellings in Raphoe close by to Letterkenny attracted a lot of interest and on the day the lot sold for €200,000. In Ballaghadereen, Co Roscommon, 24 acres of agriculture lands went for €100,000, which was €10,000 over the reserve price. A commercial unit in Oughterard also sold for €70,000, along with property in Craughwell extending to over 3,400sq ft that received a lot of interest prior to auction. This property will provide huge range of commercial or residential options for the new owner.
The O’Donnellan & Joyce live stream property auctions have become the top property auctions of 2021 as Colm O’Donnellan and his 15-strong team offer cutting edge performances to their national and international audiences. Having more than 150 pre-registered bidders signaled to the team that there is still a great deal of money available in the marketplace and demand is strong for homes in Galway city and county, and across the country. With the shortage of new homes coming on stream, the O’Donnellan & Joyce auction provides an ideal platform to achieve a great sale price for your property while offering a fair and transparent method for purchasers to rely on.
With an 85 per cent average success rate for 2021 to date, the company is soaring in terms of stock sold, sale prices achieved, and revenue generated for vendors. This was the sixth of eight live stream auctions of 2021 and the next one takes place on Friday November 19 – a date to put in your diary.
If you are thinking of selling your property, O’Donnellan & Joyce offers free ‘thinking of selling’ property valuations. To avail of the offer, simply call or email the auction team and a member of staff will arrange to carry out a valuation of your property.
The team can be contacted on (091 ) 564212 or by emailing [email protected]. Further details and the full auction results can be found on www.odonnjoyce.com
