O’Donnellan & Joyce held one of the biggest auctions in the country in the Victoria Hotel, Eyre Square, Galway, on Friday when six properties went up for auction. The auction room was full to capacity and the atmosphere was electric from the people in the room. There was also a large number of people unable to get into the room, such was the density of the crowd.
The first property up for auction was a three bedroom end of terrace house in need of refurbishment at No 13 St Dominic’s Road in the Claddagh. Bidding commenced at €200,000 and with four bidders chasing the property it increased in increments of €5,000 until it reached the final price of €255,000. At this point auctioneer Colm O’Donnellan knocked the hammer down to a huge applause for the young first time buyer who secured the winning bid.
The second property to be auctioned was a cottage style residence at Cahergowan, Claregalway, constructed approximately five years ago and standing on half an acre. This property attracted an opening bid of €260,000 and was chased by three individuals who bid it up to €300,000. After that two bidders increased the price in increments of €2,000 until the auctioneer eventually sold it at €306,000 to a young couple buying their first home.
The next property to go under the hammer was a detached residence, Killowen House in Lower Salthill. Bidding opened at €370,000, the property was chased by three individuals until it reached a price of €440,000. However it failed to reach the reserve price and Colm O’Donnellan withdrew the property from the auction room and negotiated with the highest bidder immediately after the auction, when it was sold for what is believed to be essentially a higher price.
The fourth property to be auctioned off was a detached family home at No 31 The Maples, Dr Mannix Road. This property commanded enormous interest in terms of viewings in the lead up to the auction. Bidding commenced at €540,000 with three individuals bidding intensely for the property. It reached a figure of €630,000 when the auction stalled and auctioneer Colm O’Donnellan went to speak to the clients. On his return to the room the property was put on the market for sale and it finally sold for €635,000 to a client who bought it as a family home.
Next for auction was No 62 Dalysfort Road, Salthill, a detached residence with a large garden to the rear and a two bed self contained apartment to the front of the property. This property failed to reach the reserve price, was withdrawn, and is under active negotiation at the moment.
The final property of the afternoon to go under the hammer was a 1.77 acre parcel of agricultural land in Clogher, Cahergowan. Bidding was intense with five individuals chasing the land. The opening bid of €25,000 increased in increments of €2,000 until it reached €40,000 when there were two bidders left. It eventually sold at a record price of €53,000. The record price for agricultural land at the moment is just shy of €30,000 an acre.
O’Donnellan & Joyce intends to hold its next set of auctions on Friday April 23 with a selection of homes in Moycullen, Corcullen, Roscam, College Road, Salthill, and Hazelwood, Taylor’s Hill, up for auction on the day.
For information on forthcoming auctions contact Colm O’Donnellan on (087 ) 2887446 or Anne Harding on (086 ) 8173335.
