With well-known auctioneer Colm O’Donnellan back on the podium, the crowds came from near and far to purchase the properties that went under the auction hammer on Friday last in the Harbour Hotel, Galway. With many successful bidders completing purchases from the comfort of their own homes thanks to the innovative internet bidding service that O’Donnellan & Joyce offers, combined with telephone bidding and proxy bidding, it remains evident that the market is strong throughout Galway city and county and indeed further afield. The auctioneers reported on the sale of property throughout Connacht, Leinster, and Munster and say that demand is strong with many buyers ready and waiting for the right property to come up for sale.
This was the company’s second live stream property auction since the nationwide lockdown which prevented in-person auctions and viewings, and it proved to be a huge success for the firm, raising circa €4 million for sellers and achieving an 81 per cent success rate. With many watching online and attending the auction in person, there was a great atmosphere both the auction room and in the various waiting rooms throughout the hotel.
The first record was set right at the start of the auction with Lot 1 – a one bedroom apartment located at Aran Court, Salthill – attracting a full room of bidders as well as 15 pre-registered phone bidders and a number of overseas buyers attempting to buy the ideally situated apartment through the popular internet bidding service. Guiding at €80,000, the bidding opened at the reserve price and quickly skyrocketed above €100,000. With more than 30 bids recorded from a spectrum of bidders, the sale concluded at €155,000, which was just €5,000 shy of double the asking price. With so much demand for apartments and smaller residential units in Galway, the property attracted a huge amount of attention, so much so that the auction house had to separate the bidders for Lot 1 and 2 due to social distancing measures that were strictly enforced in the hotel’s auction room. With approximately 45 bidders in attendance along with a number of O’Donnellan & Joyce staff, the limit of 50 persons in the auction room was quickly reached with those intending on bidding on subsequent lots waiting in one of the hotel’s other function rooms where they could watch the auction on the big screen.
The atmosphere was electric, with bids coming in fast and furious from bidders in attendance and from those who represented telephone bidders and the team conducting the internet bids. The majority of the 38 lot catalogue sold in the auction room, with some sales concluding during post auction negotiations after these properties fell just shy of their reserve price.
Colm O’Donnellan, director and auctioneer at O’Donnellan & Joyce, said: “It was obvious that the majority of our auction catalogue would sell out in the room when we analysed the amount of contract requests and viewing details prior to the auction commencing. There was substantial value on offer and this ignited the interest of the bidders. Despite the difficult conditions we have all faced over the last few months, there are high numbers of bidders out there and the appetite to buy remains equally strong.”
A second property that sold very well and packed out the auction room to capacity was a terraced home at No 4 Priory Road, The Claddagh, Galway. This particular property attracted more than 10,000 online viewers, and with a video tour available, further attracted lots of interested buyers to the property viewings. The property guided at €250,000 and sold for €329,000. This property presented enormous development potential and given its historic and ideal location, it will no doubt be an ideal home for the lucky purchasers.
Many other Galway city homes that were included in the 38-strong catalogue attracted significant interest with an average of 8,000 viewings per property through the company’s website listings. The auction was live streamed on the company’s website and through its social media channels. The Galway Advertiser, Galway Daily, and Daft.ie also offered a screening of the live auction through their websites and in total, more than 10,000 viewed the auction from outside of the auction room.
Some additional highlights from last Friday’s auction include:
No 3 St John's Place, Galway – This two bedroom terraced bungalow located in Galway’s West End attracted phenomenal attention throughout the four week campaign. Boasting a large rear garden, an attractive location, and enormous development potential, the property guided at €220,000. The property was viewed online more than 400 times over the past four weeks, and with a great number of interested parties bidding within the room and remotely, the hammer fell at a sale price of €278,000.
A beautifully appointed two bedroom semidetached home in Dangan Heights, Newcastle, was well received when launched to the open market in early July. The property features a large driveway with ample parking, a spacious kitchen/diner with separate sitting room, and two well-proportioned bedrooms. The property also benefits from a south facing private rear garden that had been beautifully landscaped and maintained by the previous owners. This property was brought to the market for €230,000 and sold to a young couple for €274,000. Given the space and style of the home coupled with its location close to NUIG and UHG, this property will be an ideal family home in a beautiful estate.
In the ever popular Salthill village, No 70 Grattan Park, a three-bedroom semidetached home presented in turnkey condition, was also launched to the market in early July. The property is situated just moments from the Salthill Promenade and benefits from being an equal distance to the centre of Salthill village and the Latin Quarter in Galway city centre. The property features a nicely decorated ground floor with large open plan kitchen and diner overlooking a private rear garden. Three spacious bedrooms complete the accommodation on the first floor with ample parking available on the drive or on the street thanks to the quiet cul-de-sac setting. This property guided at €365,000 but bidding soon rose to €421,000 which represents the strong demand for good properties in this location.
The auction team at O’Donnellan & Joyce, comprising Shane McDonagh, Mary Fahy, and Siobhra Hennessey, oversaw the valuation, marketing, and viewings of all 38 lots on offer on the day. Podium auctioneer Colm O’Donnellan exhibits style and energy in the auction room and never fails to entertain the crowds that travel to the landmark venue seven times annually to experience the excitement of the auction.
Other properties that sold on the day included:
No 20 Rinn Lia, Ballybrit, Galway – a two bedroom apartment which sold for €120,000.
Court Lane, Athenry, Co Galway – a terraced home in need of renovation. Sold for €77,000.
Gala petrol station in Renvyle, Co Galway – sold for €120,000.
No 17 Bailis Village, Navan, Co. Meath – a two bedroom apartment which sold for €130,000.
No 22 Chapel Farm Green, Lusk, Dublin – a three bedroom semidetached house, sold for €215,000.
No 29 Bridgewater Court, Galway city – a two bedroom city centre apartment, sold for €184,000.
No 1 Cluain Ri, Louisburgh, Co Mayo – a four bedroom detached house, sold for €150,000.
The next O’Donnellan & Joyce nationwide property auction takes place on Friday, September 18, in the Harbour Hotel, Galway. The company is now inviting those who wish to sell their properties by auction to contact the team directly for a free “think of selling” auction valuation. The catalogue is due to launch on Thursday, August 20, but those who register early will benefit from an extended marketing campaign.
If you would like more information from the auction team or if you have a property that you are thinking of selling, contact O’Donnellan & Joyce auctioneers on 091 564 212 or email [email protected]. More information and private treaty property listings can be found on the company website www.odonnjoyce.com
